Al-Ittihad newspaper: OPEC: $ 10 billion investment needed to meet the expected demand for oil and gas in 22 years

The Organization of the Petroleum Exporting Countries (OPEC) has emphasized the need for the oil and gas sector to secure more than $ 10 trillion in investment over the next 22 years to meet the expected growth of the oil and gas industry. demand for energy and industrial petroleum products.
The figures in the OPEC Global Oil Sector Outlook for the year 2040 revealed that activities related to all aspects and phases of the oil sector value chain and the gas require financing of about $ 10.5 trillion between 2017 and 2040, calculated at prices in 2016 dollars To achieve a "balanced and stable" oil market.
The report says these investments include $ 7.9 trillion in exploration, development and production, or about $ 328 billion a year. Gas, refining and petrochemicals, such as manufacturing and refining, require approximately $ 1.5 trillion, of which approximately $ 915 billion is spent on repair and maintenance, shipping, storage and distribution oil and gas, which will require about $ 1.1 trillion in investment.
In light of these expectations, the 2018 edition of ADIPEC will organize a series of specialized discussions on finance in the sector as part of a program to strengthen links between senior managers and facilitate the exchange of information. knowledge that can be applied across the entire value chain, Exploration, Development, Production and Final Product, to meet the challenges of future funding.
Richard Cormack, co-chairman of Goldman Sachs Capital Markets, said: "The investment and financing opportunities are closely related, considering that no potential investment can be discussed without knowing the source of funding, the cost and the potential cost of this funding opportunity.