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North American oil companies reducing upstream activity abroad

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Christian Fernsby ▼ | August 12, 2019
Rystad Energy data reveals that from 2014 to 2018, companies in Asia which experienced a merger and acquisition showed the most significant growth globally, increasing oil and gas production by about 1.4 million boepd by investing heavily in Asia, Russia and the Middle East.
Oil field
America   Oil field
Oil explorationIn North America however, the trend is quite the opposite.

Topics: America oil

North American companies which underwent M and A activity reduced their production over the same period by approximately 1.3 million boepd, selling their assets primarily in the Asia, Europe and the Middle East to finance shale development domestically.