The Secretary-General of the Organisation of the Petroleum Exporting Countries, Mr Mohammad Barkindo, has warned that the future of the oil and gas industry is at stake as a result of the sharp drop in investment. He said, “One major issue looming in the long-term horizon is the lack of adequate industry investment. “Our 2020 World Oil Outlook estimates that $12.6tn will be required between now and 2045 in the upstream, midstream and downstream. The OPEC scribe said all forms of energy would be needed, not only to support the post-pandemic recovery but also to satisfy long-term energy requirements. Barkindo described the future of Africa’s oil industry as bright, with vast opportunities.

Source: Punch June 02, 2021 23:47 UTC