Oil and gas project investment falls to lowest point in a decade:
"The average spent on developing major upstream oil and gas projects, which were sanctioned in 2017, fell to the lowest in a decade at $2.7 billion (SR10.12 billion), according to a report by the consultancy Wood Mackenzie on Thursday. To put the latest data into context, the average project capital expenditure (capex) over the last decade was $5.5 billion a year, said the report. WoodMac defines “major” projects as those with commercial reserves of more than 50 million barrels of oil equivalent."
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