Lux Research: Cost of replacing a barrel of produced oil up 350% in 13 years
Green Car Congress
OCTOBER 1, 2012
Upstream spending is back to pre-2008 levels as producers, excluding NOCs (national oil companies) and OPEC organizations, are expected to spend close to $270 billion in 2013. Unconventional oil will be a key area of focus for producers. In 2012, 62.5% will be in the oil sands. Cost to replace each barrel of oil produced.
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