CORRECTED-Husky Energy expects spending to drop by a third in 2015

Wed Dec 17, 2014 9:18am EST
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(Corrects currency to Canadian dollar from U.S. dollar; Incorporates earlier correction that corrected the portion of spending on upstream projects to three-quarters from 44 percent)

Dec 17 (Reuters) - Husky Energy Inc, Canada's No. 3 integrated oil company, said it expects capital spending to drop by a third in 2015 from 2014 as oil prices continue to tumble.

The company said it would spend C$3.4 billion ($2.9 billion) in 2015, about three-quarters of which would be on upstream projects.

Husky estimated that its capital spending for 2014 would be about C$5.1 billion, up from the C$4.8 billion it had planned earlier. ($1 = 1.1628 Canadian dollars) (Reporting by Narottam Medhora in Bengaluru; Editing by Saumyadeb Chakrabarty)