Oil supermajors continue to hold back on investment as mid-year guidance remains mostly firm. Oil supermajors continue to hold back on investment as mid-year guidance remains mostly firm, a new report from Fitch Solutions Country Risk & Industry Research has noted. Overall, the group will raise annual capital expenditure by 19 percent in 2022 versus earlier guidance growth of 17 percent, the report, which was sent to Rigzone recently, revealed. “The mild rise in investment is coming from Shell, the sole exception in the group, who have boosted 2022 capital expenditure guidance by 17 percent since our previous report,” analysts at Fitch Solutions stated in the report. “Brent crude prices have averaged $105 per barrel for the first half of 2022, a gain of 48 percent over 2021’s annual average price. However, the sharp gains in Brent have failed to spur similar increased investment across the supermajors peer group,” […]