Oil and gas investment needed along the lower carbon pathway.
In line with the world’s commitment to a future that sees global temperatures increasing by no more than 2 degrees above pre-industrial levels, oil & gas will still be needed to meet about half of global energy needs between now and 2040. That’s the conclusion of the International Energy Agency (IEA) in its World Energy Outlook 2017.
Recent reports by two of the world’s leading independent energy companies, BP and Statoil, support this forecast of oil and gas demand.
IOGP Global energy brief 05GEB