Barclays Sees Increase in Global E&P Investments

After Statistics Norway released its estimate on investments in 2014 suggesting rising spending in the Scandinavian country, Barclays Bank confirmed the trend in a report released on Monday.

Investment in exploration and production are expected to increase at similar rates in North America and in the rest of the world. On a global scale, the increase should be around 6.1% from 2013.

Based on a survey conducted by the bank on more than 300 oil and gas companies, investments are expected to rise by 7% in North America and by 6% outside North America. Total E&P spending would total a record $524 billion in 2014.

As disclosed by The Sunday Telegraph, Barclays Bank could soon fund fracking in Yorkshire through its equity arm Barclays Natural Resource Investment.