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2018-05-30 14:00:00

UNDERINVESTMENT GLOBAL OIL

UNDERINVESTMENT GLOBAL OIL

REUTERS -  The global oil industry should ramp up investment to ensure it can cope with future consumption growth and avoid supply shortages, OPEC Secretary-General Mohammad Barkindo told a conference in Baku.

The Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia last year began withholding 1.8 million barrels per day (bpd) of supplies to tighten the market and prop up prices that in 2016 fell to their lowest in more than a decade at less than $30 a barrel.

Both Russia and the OPEC leader Saudi Arabia have spoken about the need for a gradual increase in oil production as the goal of removing excessive oil stockpiles has now been achieved and the market has broadly been balanced.

"The next critical phase before of us in the whole process is to sustain this accomplishment of market rebalancing and gradual recovery in investments and the return of confidence in our industry," Barkindo said.

"One of the greatest and most prescient challenges before us is ensuring that there will be adequate levels of investment in a predictable fashion."

Barkindo said the pace of investment has picked up this year but there were not enough robust investments in long-cycle projects that are "the base load of future supply and the foundation of this industry's future".

He added that the required oil sector investment in the period to 2040 is estimated at about $10.5 trillion to meet future oil demand expected to surpass 111 million bpd.

"Every effort should be made to avoid a potential supply gap," he added.

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Earlier:

 Investments
2018, May, 23, 10:15:00

NO OIL FUTURE 2040

BLOOMBERG - Natural gas will probably emerge as the main fossil fuel “winner” as it balances renewables in power generation and is used as a substitute for oil in petrochemicals. Long-term gas demand is set to increase by 15 percent, or by 750 billion cubic meters, compared to business as usual,

 Investments
2018, April, 16, 09:25:00

WBG: SOUTH ASIA'S GROWTH

WBG - South Asia has regained its lead as the fastest growing region in the world, supported by recovery in India. With the right mix of policies and reforms, growth is expected to accelerate to 6.9 percent in 2018 and 7.1 percent next year.

 Investments
2018, March, 26, 07:55:00

$70: INSUFFICIENT FOR INVESTMENTS

BLOOMBERG - Oil’s recovery to almost $70 a barrel hasn’t been sufficient to stimulate the return of enough investment in the sector, according to Saudi Arabia’s energy minister.

 Investments
2018, March, 21, 12:30:00

OIL INVESTMENT THREAT

PLATTS - ExxonMobil remains more bullish on the future for oil, predicting that demand for oil will likely continue to grow by 19% to 117 million b/d to 2040.

 Investments
2018, March, 11, 11:35:00

GLOBAL TIGHT OIL INVESTMENT

EIA - Brent global benchmark crude oil price will increase throughout the projection period but will remain lower than prices during 2010–2014 in real dollar terms. For this reason, future investment growth in higher-cost resources is expected to be lower than in recent history. Global production of tight oil will increase by 3.3 million b/d, offshore deepwater by 2.7 million b/d, and oil sands by 1.4 million b/d between 2017 and 2040. Total production increases from these sources makes up nearly half of the long-term global liquids supply growth through 2040.

 Investments
2018, March, 7, 14:25:00

OIL NEED $20 TLN

SAUDI ARAMCO - our industry needs more than 20 trillion dollars over the next quarter century to meet rising demand for oil and gas (including in ageing infrastructure).

 Investments
2017, September, 13, 15:10:00

IMF: SOUTHEAST ASIA'S TRANSFORMATION

IMF - When we think about Asia’s economic future, we know that this future is being built on strong foundations—on the richness and diversity of its cultures, on the incredible energy and ingenuity of the people who have changed the world by transforming their own economies. China and India have been driving the greatest poverty reduction in human history by creating the world’s largest middle classes. In a single generation, Vietnam has moved from being one of the world’s poorest nations to being a middle-income country.

Tags: OIL, PRODUCTION, PRICE, INVESTMENT

Chronicle:

UNDERINVESTMENT GLOBAL OIL
2018, November, 19, 11:20:00

U.S. SECURITIES OUTFLOW $29.1 BLN

U.S. DT - The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC outflow of $29.1 billion. Of this, net foreign private inflows were $23.5 billion, and net foreign official outflows were $52.7 billion.

UNDERINVESTMENT GLOBAL OIL
2018, November, 19, 11:15:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in October, as a gain for manufacturing outweighed decreases elsewhere. As a result of upward revisions primarily in mining, the overall index is now reported to have advanced at an annual rate of 4.7 percent in the third quarter, appreciably above the gain of 3.3 percent reported initially.

UNDERINVESTMENT GLOBAL OIL
2018, November, 19, 11:10:00

GREEN NUCLEAR ENERGY

WNN - "nuclear energy is a "mature, low greenhouse gas emission source of baseload generation that could make an increasing contribution to global development based on low-carbon energy supply".

UNDERINVESTMENT GLOBAL OIL
2018, November, 19, 11:05:00

SAUDIS, PAKISTAN INVESTMENT: $6 BLN

ARAB NEWS - Saudi Arabia has shown investment interest in Pakistan’s largest coastal refinery, a multibillion-dollar project being set up at Khalifa Point, near Hub, Balochistan, officials have confirmed.

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