In the period to 2040, the required global oil sector investment is estimated at $11 trillion. That’s according to the latest OPEC World Oil Outlook report, which was launched on September 23 in Algiers, Algeria. The report outlines that total required upstream capital expenditure related to oil amounts to $8.3 trillion. It is projected that downstream capacity additions will require another $1.5 trillion and midstream investments will require another $1 trillion of investment globally, according to the report. “Given the demand and supply outlook, there is evidently the need for significant investments across the entire industry,” Mohammad Sanusi Barkindo, OPEC secretary general, said in the report’s foreword. “While investments picked up slightly in 2017 compared to the previous two years, and the expectations are for higher levels again in 2018, it is vital that as an industry we ensure there is timely and adequate investment so as not to […]