, Columnist
China Oil Turns on Cash Taps
Sinopec and Cnooc are boosting budgets by more than global rivals. PetroChina is likely to follow.
This article is for subscribers only.
Recovering from a binge was never meant to be easy.
Five years after the oil industry's capital spending budget first neared the $500 billion mark, it's still not forecast to be much more than half that amount next year.
