OIL & GAS
This year, offshore investments are set to increase 7%, from USD145 billion to USD155 billion.
Photo courtesy of Petrobras.
Global oil & gas investments to hit USD628 billion in 2022 Global oil & gas investments will expand by USD26 billion this year as the industry continues its protracted recovery from the worst of the pandemic and the hurdles imposed by the Omicron variant. An analysis by Rystad Energy projects overall oil & gas investments will rise 4% to USD628 billion this year from USD602 billion in 2021.
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significant factor behind the increase is a 14% increase in upstream gas and LNG investments. These segments will be the fastest growing this year, with a jump in investments from USD131 billion in 2021 to around USD149 billion in 2022. Although this falls short of pre-pandemic
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totals, investments in the sector are expected to surpass 2019 levels of USD168 billion in just two years, reaching USD171 billion in 2024.
Promising outlook Upstream oil investments are projected to rise from USD287 billion in 2021 to
USD307 billion this year, a 7% increase, while midstream and downstream investments will fall by 6.7% to USD172 billion this year. “The pervasive spread of the Omicron variant will inevitably lead to restrictions on movement in the first quarter of 2022, capping energy demand and recovery in the major crude-
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OSI 2022 | Vo l u me 15 | I s s u e 1 | 3 1
21-02-2022 16:04
