Offshore

Hvalross
07.10.2021 kl 23:15 2919

Oil explorers need to raise drilling budgets by 54% to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody’s Investors Service Inc.

Oil and gas companies are expected to spend $352 billion on drilling and related activities this year, Moody’s said, citing estimates from the International Energy Agency. If they raised to to the credit-rating firm’s recommended $542 billion, that would be the highest worldwide since 2015.

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