Oil demand s
Global oil demand to continue to grow until 2040
 
OMV Petrom’s investments to boost the hydrocarbons production
  • Spencer Coca

    Mazarine Energy to invest up to USD 500 million in Romania over the next years. Spencer Coca is Country Manager at Mazarine Energy Romania srl, subsidiary of Dutch company Mazarine Energy BV. ... Read More
  • Iulian-Robert Tudorache

    Iulian-Robert Tudorache – State Secretary within the Ministry of Energy, coordinator of the oil and gas sector, has recently led Romania’s official delegation to the World Petroleum ... Read More
  • Gerd Bommer

    According to the Romanian Ministry of Foreign Affairs, Austria is one of the main trading partners and the second biggest foreign investor in Romania ... Read More
  • Alexandru Vidu

    The Bureau Veritas Group, world leader in certification of various management systems, with offices in more than 140 countries and more than 100,000 certificates issued ... Read More
  • Ionut Purica

    What advantages does Romania have within the European Union, what country risks exist? What major challenges ... Read More
  • Alexandra Damascan Armegioiu

    Serinus Energy, the Canadian-based Company that owns Winstar Satu Mare, has recently revealed plans to invest in the ... Read More
  • Torgeir Olsen

    Odfjell Well Services (OWS) is a leading international company with long history and rich experience, providing world-class petroleum services ... Read More
  • EUGENIA GUSILOV

    Romania Energy Center (ROEC) is Romania’s first independent English language energy studies think tank. ROEC connects three epistemic ... Read More
  • Liviu Ilasi

    This year, the crude oil and derivatives carrier via pipelines and by rail tanks marked 115 years of existence of the crude oil transport via pipelines ... Read More
  • Alberto Collamati

    Weatherford International, one of the largest multinational oilfield service companies providing innovative solutions, technology and ... Read More
  • Virgil Metea

    In the agitated context of the European energy market reconfiguration and the low natural gas prices, we talked with Mr. Virgil Metea ... Read More
  • Mariana Gheorghe

    Mrs. Mariana Gheorghe is for 10 years the Chief Executive Officer and President of the Executive Board of the largest oil and gas company ... Read More
  • John L. Knapp

    ExxonMobil Exploration and Production Romania Limited currently chairs the Romanian Black Sea Titleholders Association (RBSTA), through its representative ... Read More
  • Artur Stratan

    ROPEPCA supports a progressive royalty system. The Association was set up in 2012 out of the oil industry’s need to strengthen the sector’s image of onshore oil and natural gas exploration ... Read More
  • Karl Leidenfrost

    For PPS Pipeline Systems, part of Austrian Habau Group, 2000 marks the beginning of its activity in Romania. How everything started on the domestic market, what are the main ... Read More
  • Iulian Iancu

    Building up the Energy Union is one of the priorities on the European agenda and Romania, as a Member State, has made several commitments to support the set of measures taken by ... Read More
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16

Global oil demand to continue to grow until 2040

 

The oil industry is entering a period of greater oil price volatility, according to Fatih Birol, the IEA’s executive director.
“If oil prices rise in the short term, then shale producers can react quite quickly to put more oil on the market, producing a see-saw movement,” Fatih Birol stated. “And if we continue to see subdued investments in new conventional oil projects, this could have profound consequences in the longer term,” he added.
Birol’s comments were made following the release of the IEA’s World Energy Outlook 2016 report, which predicted that global oil demand will continue to grow until 2040 - mostly because of the lack of easy alternatives to oil in road freight, aviation and petrochemicals.
Speaking at the World Energy Outlook launch, Birol outlined that the share of Middle Eastern countries contributing to global oil production reached 35 percent in 2016, which is the highest level in the last 45 years. Birol also predicted that a second gas revolution, following the shale gas movement in the US, would be seen in the coming years.

Share this post

Submit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TwitterSubmit to LinkedIn
  • All
  • Analysis
  • Interview
  • Natural Gas
  • Oil
  • Oil & Gas
  • Default
  • Title
  • Date
  • Random
load more hold SHIFT key to load all load all