Next 25 Years: Oil industry needs $20tr investment

Nasser says industry has already lost $1 trillion of investments since the oil price downturn

HOUSTON: The global oil and gas industry needs to invest more than $20 trillion over the next 25 years to meet expected growth in demand and compensate for the natural decline in developed fields, Saudi Aramco Chief Executive Officer Amin Nasser said on Tuesday. Speaking at the CERAWeek conference in Houston, Nasser said that the industry has already lost $1 trillion of investments since the oil price downturn from 2014 to 2016. Future investments needed “will only come if investors are convinced that oil will be allowed to compete on a level playing field, that oil is worth so much more, and that it is here for the foreseeable future”, Nasser said.

Published in The Express Tribune, March 7^th, 2018.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.