Chevron, Exxon , Royal Dutch Shell and poured more than $ 120 billion in 2013 to increase their production of oil and gas . This expenditure is approximately equal to the cost to dispatch men to the moon .
But this spending is not aligned with the results of the three giants of the oil production . Their oil and gas production down , despite their total capital expenditure reached half a trillion dollars in the last five years . Each week the company is scheduled to announce their financial statements for 2013 . They predicted earnings lower than in 2012 , despite high oil prices .
One of the biggest problems : skyrocketing spending to finance a lot of " megaprojects " new . These projects include the mining of new oil and gas reserves to replace supplies from mature oil fields .
Oil mining plans on an artificial island in the Caspian Sea to cost $ 40 billion to a consortium of Exxon and Shell , up from the initial budget of $ 10 billion . The cost for a natural gas project in Australia called Gorgon , which is jointly owned by the three companies , jumped 45 % to $ 54 billion . According to some sources , Shell also issued at least $ 10 billion to a previously untested technologies : refinery ship . The company that builds natural gas refinery in a large vessel , so that Shell can search for gas in remote areas .
Exploration of new oil and gas mining is risky . Oil companies need to penetrate the ocean floor and go to the regions of Africa , Asia , and the Middle East is volatile . The mission is now more complicated and more expensive . Easily accessible oil fields have dried up long ago . The most productive field often dominated by state enterprises , such as in Saudi Arabia and Venezuela .
As a result , Chevron , Exxon , and Shell was forced to spend more . It endanger their profit margins are usually reliable . Exxon , for example , had to borrow and spend more money in order to patch up their capital expenditures . The Texas-based company had to dampen the volume of repurchase ( buyback ) of their shares .
According to Exxon , spending for new oil fields could reach about $ 41 billion last year , up 51 % from $ 27.1 billion in 2009 .
While risky strategy by going after big oil and gas fields , the oil giant behind three oil and gas shale trends in North America . Smaller companies and agile actually benefited , as successfully initiate shale gas extraction , aka take oil and gas from dense rock .
Oil industry analysts say the oil giant would have difficulty controlling their spending . However , the three large companies that have to maintain the volume of oil supplies mereka.Terlebih again , they should pursue oil exploration competitors in the race world . | ASWJ
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