News Topics: Capital Budget Annoucements

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OMV Raises Dividend By 20% As Cash Pile Grows
Thursday, February 16, 2017 Austrian oil and gas group OMV raises its dividend by 20% as free cash flow turned positive last year.

Encana Boosts Capital Spending By 50% Amid Oil Recovery
Thursday, February 16, 2017 Encana reports a better-than-expected quarterly operating profit, helped by a cash tax recovery.

Singapore Banks' Sour Loans In Focus As Oil Service Sector Stresses
Friday, February 10, 2017 Singapore's DBS Group Holdings and smaller rival United Overseas Bank are set to report their lowest quarterly profit in at least 2 years, hurt by loans provisions for the oil services sector.

Statoil Targets Cost Savings of $1B in 2017
Tuesday, February 07, 2017 Statoil ASA is targeting cost savings of $1 billion in 2017, which comes in addition to the $3.2 billion it has already cut as part of its improvement program.

China's Oil Majors Set To Lift CAPEX For First Time In Years
Thursday, January 26, 2017 China's oil majors are expected to pump up spending in 2017 for the first time in years, scrambling to squeeze more barrels of crude out of ageing domestic wells in the hope that higher prices are here to stay.

Rig Builder Lamprell Sees Lower Revenue, To Tighten Purse Strings
Monday, January 23, 2017 Oil-rig builder Lamprell Plc says it will continue to maintain a tight rein on costs as it stuck to its guidance of lower 2017 revenue and pointed to a "particularly cautious environment" for the year ahead.

Lundin's Development Expenditure to Top $1B in 2017
Thursday, January 19, 2017 Lundin's development expenditure in 2017 will total $1.095 billion.

Hess To Spend More On Exploration And Production This Year
Thursday, January 12, 2017 Hess budgets $2.25 billion for exploration and production this year, higher than the $1.9 billion it spent in 2016.

Energean Expects To Spend Up To $1.5B On Israeli Offshore Gas Project
Wednesday, January 11, 2017 Energean Oil & Gas plans to build its own production system in the eastern Mediterranean at a cost of up to $1.5 billion to tap 2 Israeli offshore gas fields.

Barclays Forecasts Investors May Shift, Favor Oilfield Services
Monday, January 09, 2017 Analysts upgrade oilfield services from neutral to positive as under-owned sector poised to benefit from North America's 27% E&P spending boost.

Canada's Penn West Raises 2017 Capex Budget
Thursday, January 05, 2017 Penn West Petroleum Ltd raises its 2017 capital budget to C$180 million ($135 million) from C$150 million, and said it expects a 15% increase in production from core areas.

Encana On Track To Exceed 2017 Budget Plan
Wednesday, January 04, 2017 Encana met its projected 2017 operations activity and rig count in December, building momentum for its five-year plan, CEO Doug Suttles says.

China's Top Oilfield to Cut CAPEX by 20% in 2017
Thursday, December 29, 2016 China's largest oilfield, Daqing, will slash capital spending in 2017 by 20% compared to the previous year.


 
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