3 May 2024
Oil and gas investment slumps below electricity sector – IEA
Publication date: 11 July 2017
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Global investments across the energy industry fell sharply last year, as spending on oil and gas projects tumbled and left the growing renewables and electricity sector at the top of the heap, the International Energy Agency (IEA) said in its latest annual World Energy Investment report.
The agency’s second ever report said lower capital costs for services and goods in the oil and gas sector as well as ever-cheaper solar panels helped make the power sector the largest destination of energy investment in 2016 – despite a resurgence in ...