OPEC Secretary General: the sustainability of the global energy system is "at stake"

May 15, 2023 | 12:18 |8217

OPEC Secretary General Haissam al-Gais said the sustainability of the global energy system is "at stake" due to a lack of investment in the industry, Emarat Al Youm newspaper reported.

According to him, with the growth of the population and economy, the world will need more energy. Thus, the oil sector, which by 2045 will provide almost a third of the world's energy consumption, needs investments of $12.1 trillion or $500 billion per year.

"The energy sector, its producers and consumers, need a long-term and favorable investment climate," al-Gais said.

ORIENT news