Oil Investment Lags Jump In Crude Prices ...Middle East

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Oil Investment Lags Jump In Crude Prices
source : OILPRICE ( Middle East ) () 17
Investment in new oil and gas projects last year sank to the lowest in 15 years at $350 billion. As the world continues its battle against Covid-19 and as the energy industry increasingly looks towards diversification outside its core business, it is doubtful how soon—if ever—investments in new upstream projects will recover to pre-pandemic levels. This is not to say there is no sign of recovery in investments. Wood Mackenzie reports there are a total of 26 new projects in conventional oil and gas that could get their final investment…

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