Brazil and China boost oil investment

Just one of the big international oil “majors”, Chevron, has increased capital expenditure this year over last year, the study found. Repsol, Total and Exxonmobil had held spending steady but others including ConocoPhillips, BP and Royal Dutch Shell had all made significant cuts.

But thanks to nationalised oil companies around the world overall expenditure has remained stable at $375bn (
Telegraph