The global oil industry is expected to ratchet up spending on new oil and gas projects this year, with the number of new final investment decisions (FIDs) soaring compared to the past few years. The number of new FIDs could triple compared to 2018 totals, according to Rystad Energy, and that figure excludes the wave of investment in U.S. shale. Shockingly, the oil industry is also returning to large-scale, long-lived projects that seemed to be a thing of the past. “We expect global FID volumes in 2019 to triple over last year, and 2019’s megaproject awards could lead to billions of subcontracting dollars in coming years,” Rystad Energy upstream research analyst Readul Islam said in a statement . After the 2014 oil market downturn, oil companies around the world slashed spending and cancelled projects, particularly the megaprojects that had shown a track record of cost blowouts and years of […]