MORE: Spending by 10 Japan Energy Cos Forecast to Fall 37%: METITsuyoshi Inajima, Stephen Stapczynski and Emi Urabe
Japanese energy cos. fcast to cut investments by 37% to ~1.2t yen in yr ending March, accord. to Ministry of Economy, Trade and Industry report released Tuesday.
- ~70t yen/yr investment required to maintain global oil and gas production volumes: METI
- Global oil and gas development investment fell 20% in 2015 y/y to ~65t yen, METI says citing IEA; may decline further in 2016
- READ: Japan Energy Spending Cuts Add Urgency to Securing Future Supply
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