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Help Wanted!

Help Wanted!

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Oil, Gas Co's to Hike New Project Spending: Survey

The increase shown by the survey of 387 oil and gas producers follows the drop in spending of 15 percent in 2009 from the previous year, when oil prices reached a record high.

The projected spending increases for North American and international companies are "surprisingly strong," Jim Crandell, oil services analyst with Barclays told investors on a conference call.

Source: Reuters

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