The steep fall in energy prices will hit investment in oil and gas projects worldwide and the industry may cancel about $1 trillion of planned projects globally in the next couple of years, a senior Saudi Aramco executive said on Monday.
More than $1 trillion of investments are needed by 2030 to meet demand for gas and electricity in the Mena region, according to analysis by IHS.
Sharing its perspective during Abu Dhabi International Petroleum Exhibition and Confe
The energy industry in Mena will see a wave of capital projects worth more than $1.1 trillion in projected spending in the coming decade, approximately one-fourth of the industry’s total global investment through 2020, said a report.
Abu Dhabi's International Petroleum Investment Co (IPIC) saw its first-half profit nearly triple as the energy-focused investment vehicle posted gains on its financial investments, an updated bond prospectus showed. &nbs
Planned energy investments in Gulf Co-operation Council (GCC) countries are set to reach $272 billion by 2015, the chairman of the GCC Energy Working Group told a conference on Monday.
Of the total, $111 billion of those investments are pl
Investment in oil and gas exploration and production this year is seen falling 21 per cent, or almost $100 billion, due to the economic crisis, the International Energy Agency (IEA)said.
The IEA also said on Sunday it expected global power
The economic downturn is cutting investment in energy supply, risking higher prices in future that would hamper any recovery, the chief economist of the International Energy Agency (IEA) said on Wednesday.
Fatih Birol told Reuters in an in