OPEC announces reduction of investment in oil production

News Department
Post's author

The fall in investment in global oil production is estimated at $500 billion a year, OPEC Secretary General Haitham Al Ghais at the international energy conference CERAWeek in Houston, Texas, Report informs.

"We are seeing a significant decline in investment in the oil sector," he admitted.

He noted that against the backdrop of such a reduction in investment, there are concerns in the field of energy security and energy availability.

Latest news

King of Jordan congratulates President of Azerbaijan Ilham Aliyev 23 December, 2024 / 20:57
Isaac Herzog congratulates Azerbaijani President Ilham Aliyev 23 December, 2024 / 20:53
Greenland hits back after Trump’s dangerous threat 23 December, 2024 / 20:49
After Trump threat, Mexican president says Panama Canal belongs to Panamanians 23 December, 2024 / 20:43
Viktor Orban congratulates president of Azerbaijan 23 December, 2024 / 20:35
Emomali Rahmon sends congratulatory letter to president of Azerbaijan 23 December, 2024 / 20:17
Nursultan Nazarbayev congratulates President Ilham Aliyev 23 December, 2024 / 20:06
Ambassador: Growth in Kazakh oil transit possible through expanding Baku port's capacity 23 December, 2024 / 19:51
S. Korea's KAI signs 136B-won deal to export Surion helicopters to Iraq 23 December, 2024 / 19:46
Qatar eyes investment in Syria's energy, ports 23 December, 2024 / 19:25
Germany announces major military aid package for Ukraine 23 December, 2024 / 19:02
Lao Cai-Hanoi-Hai Phong railway expected to start construction in late 2025: Vietnamese PM 23 December, 2024 / 18:41
Mozambique death toll from Cyclone Chido rises to 120 23 December, 2024 / 18:20
UK King's Christmas message to come from former hospital chapel 23 December, 2024 / 17:57
Sahiba Gafarova informs Dagestani counterpart about Azerbaijan-Armenia peace process 23 December, 2024 / 17:57