Global oil sector will need cumulative investment of $12.6 trillion through to 2045, says OPEC Secretary General

Baku, December 17, AZERTAC

“The global oil sector will need cumulative investment of $12.6 trillion in the upstream, midstream and downstream through to 2045”, said OPEC Secretary General Mohammad Sanusi Barkindo as he addressed the 31st Meeting of the Energy Charter Conference, held on 17 December 2020, via videoconference.

He noted that these investments would be vital for improving the efficiency of the industry.

“At OPEC, we recognize the importance of energy efficiency as a means of reducing greenhouse gas emissions, while allowing for sustainable development. We also believe that dialogue between consumers and producers is critical to improving efficiency,” Mohammad Sanusi Barkindo mentioned.

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