Global oil and gas sector requires annual investment of $540 billion, according to the IEA
17:49 17.09.2025 1014
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.
Government meeting considered the work of fuel and energy enterprises in the Balkan region
Vice-Chairman of the Cabinet of Ministers Shakhym Abdrakhmanov reported on the situation in the fuel and energy complex in the Balkan region at a government meeting chaired by President of Turkmenistan Gurbanguly Berdimuhamedov last Friday.
The President of Kazakhstan confirmed his participation in the international peace forum in Ashgabat
The President of Kazakhstan Kassym-Jomart Tokayev confirmed his participation in the International Peace and Trust Forum, which is scheduled to be held on December 12 in Ashgabat. The head of Kazakhstan wrote about this in a letter addressed to the Chairman of the Halk Maslahaty Gurbanguly Berdimuhamedov.
Turkish and Afghan businessmen purchased liquefied gas and jet fuel at exchange trades
11 transactions were registered at the State Commodity and Raw Materials Exchange of Turkmenistan last week.
«Nebitgazchykarysh»: 503 wells repaired in 11 months
The repairmen of the «Nebitgazchykarysh» enterprise of the State Concern «Turkmennebit» of the Balkan region have achieved great results since the beginning of 2021. The enterprise overhauled and commissioned 503 wells in January-November.
Achievements of the Seydi oil refinery
With great achievements and successes, the Seydi oil refinery is confidently moving towards new heights of progress, as evidenced by the company's socio-economic indicators this year.