Oil and gas industry ‘in a good position,’ study finds
Posted: Fri 19 Jun 2009, 19:02:46Oil and gas industry ‘in a good position,’ study find
bizjournals
The oil and gas industry is headed in the right direction for recovery, according to a study released Thursday by Ernst & Young LLP’s Houston-based oil and gas division.
The study found that hits to the industry included some scaling back of upstream investment in 2009 and the postponement of some proposed developments. But from overall figures, Ernst & Young estimates that, as the recovery in oil and gas markets gathers steam in the second half of 2009, the U.S. oil and gas industry appears poised to resume its growth and be a key contributor to the U.S. and global economic recovery.
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