LNG

Dec 5 - Driven by a huge surge in acquisition activity in the US total global upstream capital spending by 221 oil and gas companies studied increased 47 percent to $558 billion last year, according to a report from Norwalk, Connecticut-based energy consultants IHS. The significant rise in capital spending was due to a seven-fold increase in acquisition spending to $125Bln. ExxonMobil, which shelled out $72Bln last year, was the largest spender globally, due to its acquisition of XTO Energy, the report said. Petrobras, the Brazilian national oil company, spent $65Bln.