Capital expenditure
Overall total capital expenditures made by companies included in the study was U.S. $ 480.5 billion in 2011, representing a decrease of 3% compared to 2010. However, these companies have made significant investments to identify new resources and developing existing reserves, increasing exploration and increased spending allocated to U.S. $ 384.2 billion, 19% more than in 2010.
Oil and gas reserves
Global oil reserves have increased every year of the period studied (2007-2011), an increase of 1% in 2011. Global oil production fell by 4% in 2011, mainly affected by the decline in the regions of Africa and the Middle East, largely due to political instability and the decline in Europe, due to the constant decrease in investments several years.
Global reserves of natural gas increased by 4% in 2011, recording an overall increase of 27% over a 5 year period of study. Natural gas production increased by 4% in 2011. The largest increases at both reserves and production at gas were recorded in 2011 in the Asia-Pacific and the U.S.
Revenue and profit
Price increases in oil and natural gas led to an increase of 27% of revenues from production activities of companies included in the study, with a total value of $ 1.2 trillion. Production costs increased by 31% in 2011, due to increased labor costs and services and increase production costs and taxes. Recorded profit after deduction of the global upstream area increased by 29% since 2010, the company recorded profits in 2011 of $ 319.9 billion being.
However, the results achieved in the oil and gas industry in 2011 were mixed. Prices have reached high enough levels allowing companies achieve revenue growth, but cost inflation was felt in the upstream segment. In this context, cost control and reduction have gained increasing importance in efforts by companies to grow.
About the study
Global Oil and Gas Reserves - the study is a compilation and analysis of information disclosed by companies in the oil and gas segment in their annual reports filed with the U.S. Securities and Exchange Commission. This study includes the results of operations and production (E & P) global and regional reports from 75 companies for a period of five years, from 2007 to 2011. The results of these companies are generally representative of E & P industry-wide, except for some national oil companies do not publish their financial and operational data and whose performance can be significantly different.
