Big Oil's $45B Of New Projects Signal Spending Revival



By contrast, Eni’s plans to exploit its giant Coral gas discovery off Mozambique include the first newly built floating LNG plant in Africa. Eni CEO Claudio Descalzi said in April he is “ practically sure” the company will make a final investment decision this year.

“Unless oil prices do something very drastic and go lower, these companies now have many projects in their portfolios to pick from,” said Iain Armstrong, a London-based analyst at Brewin Dolphin Ltd. “Times have improved.”

To contact the reporter on this story: Rakteem Katakey in London at rkatakey@bloomberg.net To contact the editors responsible for this story: James Herron at jherron9@bloomberg.net Alex Devine, Dan Stets


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