The global oil sector alone requires a cumulative investment of $12.6 trillion through to 2045. This was disclosed by OPEC Secretary–General Mohammed Barkindo of Nigeria, at the Atlantic Council Global Energy Forum 2021.
Barkindo noted that it is vital that the required investments are made, in all energies, to ensure stable and continuous supplies, and to help reduce and, ultimately, eliminate emissions.
He added that without the necessary investments, there is the potential for further volatility and a future energy shortfall, which is not in the interests of either the producers or the consumers.
Also Read: OPEC and Non-OPEC members reconfirm Oil Production cut
The Atlantic Forum tagged Geopolitics of the Energy Transformation is holding between January 19- 22, 2021, and has seasoned speakers in the oil and gas industry across the globe.
Edited by Tunde Orebiyi.
