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(Denny Thurston/Getty Images/iStockphoto)

Streetwise

Junior Canadian energy companies to cool capital spending

Energy companies are expected to boost spending to explore and develop their global projects next year, but Canada is expected to miss out on most of the rise – particularly at the junior level.

The findings come out of a major international survey conducted by Barclays Capital, which questioned more than 300 energy companies about their expectations for capital spending in 2013. Analyzing the results, Barclays expects total global spending to rise by seven per cent to a record $644-billion, but in Canada the amount spent is expected to be much less aggressive.