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Shell leads the way on upstream spending plans, says GlobalData

Shell leads the way on upstream spending plans, says GlobalData

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Shell is leading the way on new-build spending plans to 2025, according to a new report from GlobalData.

The analysts forecast that the energy giant is expected to spend £42.4billion on a total of 60 upstream projects over the period..

Total global capital expenditure on new-build developments in the next six years is £657.8bn.

Behind Shell in the spending ranks Gazprom and ExxonMobil, spending £38.7bn and £33.4bn respectively.

Canada, the US and Russia can expect to see the highest spending, according to the report, along with Mozambique.

GlobalData analyst Soorya Tejomoortula said: “Shell has spread its new-build capex for the development of 60 upcoming upstream projects.

“This will further aid the company to expand its scale, and increase production and cash flows.”

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