Oil Industry Needs Whopping $12.6 Trillion In Investments

The global oil industry needs some $12.6 trillion in investments through 2045, the secretary-general of OPEC said at a videoconference, adding these investments would be essential for the industry to improve the efficiency of its operations. “The global oil sector will need cumulative investment of $12.6 trillion in the upstream, midstream and downstream through to 2045,” Mohammed Barkindo said, as quoted by Azertac. “At OPEC, we recognize the importance of energy efficiency as a means of reducing greenhouse gas emissions, while…