NEW YORK - Dealmaking activity in the oil and gas industry increased 57% last year as energy companies boosted development spending, driven by higher cash flows from profits in prior years, according to a report released on Tuesday.
Last year, oil and gas companies halved spending on dividends and share repurchases payments to $28.9 billion from a record $57.7 billion in 2022. Companies flush with cash were focused on driving efficiency through scale and leveraging existing operations, he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: