Oil and gas sector needs $10tr investment

The

oil and gas industry must secure more than $10 trillion (Dh36.7 trillion) worth of investment over the next 22 years if it is to meet the forecast growth in demand for energy and industrial petroleum-based products.

According to figures from the Opec World Oil Outlook 2040, the total oil and gas value chain will need around $10.5 trillion in funding between 2017 and 2040, calculated at the 2016 dollar rate, to achieve a “balanced and stable” oil market. This includes $7.9 trillion invested in upstream production. Downstream industries will need around $1.5 trillion. (WAM)