OPEC Projects $14.9 Trillion in Oil Investment by 2050

Подробнее о видео

The Organisation of the Petroleum Exporting Countries (OPEC) has unveiled a significant projection, estimating that an extraordinary $14.9 trillion will be required for upstream oil investment by 2050 to satisfy the anticipated global demand. OPEC expects this demand to peak at 123 million barrels per day. Within its 2025 World Oil Outlook, the organisation dismissed theories surrounding peak oil as unrealistic. It emphasised the ongoing reliance on fossil fuels, primarily driven by urbanisation and industrial growth, particularly in the Global South.

Nigeria, endowed with extensive oil reserves, is positioning itself to attract much-needed investments. OPEC cautioned that any underinvestment in the sector could lead to future energy crises, contradicting forecasts from the International Energy Agency for a cleaner energy transition. To discuss the implications of these projections and Nigeria's strategic positioning, we welcome Daniel Duodu, an expert in oil sector audits.

SUBSCRIBE to our YouTube channel: for more videos

Follow News Central on:
Facebook:
Twitter:
Instagram:
LinkedIn:
Threads:
TikTok:
For more content, go to:

#NewsCentral #Nigeria #Politics #AfricaFirst #Africa #News #WestAfrica #ECOWAS #Government #Governance