SunSirs: OPEC: The Oil Industry Needs $12 Trillion in Investment by 2045
May 18 2023 09:27:36
According to the Oil and Gas News Network on May 15th, by 2045, the global oil industry, which will account for nearly 29% of world energy demand, will require nearly $12.1 trillion in investment from now to then. According to a senior industry insider, this is equivalent to an investment of over $500 billion annually.
OPEC Secretary General Haitham Al Ghais stated that due to the downturn in the industry, the impact of public health events, and increasing attention to social governance issues such as the environment, the recent annual investment level has been lower than this number. He pointed out, "In fact, we believe that there is not enough investment in all energy sources. In short, the sustainability of the global energy system is at stake." He added, "We are adding investment. We need a long-term, investment friendly environment that is beneficial for both producers and consumers." He pointed out that with population and economic growth, the world will need more energy in the coming decades.
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