KEY INSIGHTS
Upstream majors dive into deeper waters as exploration budgets stay flat in 2024
Oil and gas upstream majors — ExxonMobil, Shell, Chevron, BP, TotalEnergies and Eni — will continue to exercise caution in exploration spending this year, with drilling activity poised for a busy year ahead. According to Rystad Energy’s research, these major producers will have spent on average a combined $7 billion each year between 2020 and 2024,...
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