Global oil and gas sector requires annual investment of $540 billion, according to the IEA
17:49 17.09.2025 1314
Maintaining current oil and gas production levels until 2050 will require the global industry to invest approximately $540 billion annually in finding new fields, the International Energy Agency (IEA) predicts, Interfax reports.
This year, this figure will be approximately $570 billion, down slightly from the previous year, Bloomberg quotes Christoph McGlade, head of the IEA's energy supply division.
The forecast is based on an analysis of more than 15,000 fields and the rate of production decline at them. Without the necessary investment, global production will decline annually by an amount equivalent to the combined output of Norway and Brazil—more than 5 million barrels per day.
Global markets are forecast to be in oversupply this year and next, with British energy giant BP Plc expecting non-OPEC global oil production to remain flat from the start of 2026 and for 12 to 18 months.
President of Turkmenistan arrives in Malaysia on official visit
President of Turkmenistan Serdar Berdimuhamedov arrived in Malaysia on December 18 on an official visit, TDH reports.
Turkmen-Vietnamese business forum aims to realize the potential of bilateral cooperation
On June 29, the capital of Vietnam hosted a Turkmen-Vietnamese business forum aimed at developing new solutions and approaches to realizing the potential of bilateral cooperation and building up trade and economic relations between Turkmenistan and Vietnam. This is reported by the website of the Foreign Ministry of Turkmenistan.
Oil prices fall and end the week in the red, Brent - $108.84 per barrel
Oil prices fall on Friday, ending the week with a decline amid fresh signals that the US economy is slowing down and demand for energy resources may decline, Interfax reports.
Raisi: Iran is ready to continue sending Turkmen gas in a swap to Azerbaijan
Iran is ready to continue sending Turkmen gas to Azerbaijan through its territory. Iranian President Ebrahim Raisi stated this on Wednesday at a meeting with President of Turkmenistan Serdar Berdimuhamedov, the Iranian news agency IRNA reported.
Turkmenistan and Japan discussed expansion of economic cooperation
On December 16, the joint fifteenth meeting of the Turkmen-Japanese and Japanese-Turkmen Committees on Economic Cooperation was held in Ashgabat at the Yildiz Hotel.