Upstream capital spending was predicted to make a bit of a comeback from 2019, but all bets are off for 2020 worldwide spending, with the United States likely to take the deepest plunge.
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Financial analysts on Wednesday said the bidding war for Anadarko Petroleum Corp. by Chevron Corp. and Occidental Petroleum Corp. was unheard of in the exploration and production (E&P) sector.
U.S. natural gas markets have little to fear from battery storage projects for now, but don’t overlook the threat to gas-fired peaking power plants as grid-scale storage is mainstreamed within a few years, according to Raymond James & Associates Inc.
Oil and natural gas startups worldwide should continue to deteriorate this year, resulting in an even bigger call on U.S. shale to meet global demand growth over the next decade, a review by Raymond James & Associates Inc. has found.
U.S. growth in natural gas for transportation and the switch to natural gas from oil-based fuels by petrochemical companies are two big reasons that domestic oil demand isn’t growing, according to an analyst with Raymond James & Associates Inc.