• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, June 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

OPEC reports oil industry needs $14trn investment to meet global demand

OPEC

The Matters Press by The Matters Press
February 29, 2024
Reading Time: 2 mins read
0
Chamber wants to cut production

OPEC

Abuja, Feb. 29, 2024 (NAN) The Organisation of the Petroleum Exporting Countries (OPEC) says the oil industry will require about 14 trillion dollars investment from now to 2045, to meet global demand.

RELATED POSTS

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

FCT ground rent!: Check your name if you own property

The Secretary-General of OPEC, Haitham Al-Ghais, made this known while fielding questions from newsmen on Thursday on the sidelines of the ongoing 7th Nigeria International Energy Summit (NIES 2024) in Abuja.

The summit with the theme: “Navigating the new energy world order: Security, Transition, and Finance”, began on Feb. 26 and will end on March 1.

Al-Ghais said that the investment would be needed for the upstream, midstream and downstream value chain because of the massive rise in energy demand, as oil would continue to represent 30 per cent of the energy mix by 2045.

“The prediction is not only for OPEC alone but many reliable forecasting agencies have the same views that oil will continue to represent a major share of the energy mix in future.

“We will continue to advocate for continuation of investments in oil as well as the technology required in decarbonising operations.

“We have many projects coming up in our member countries; we also advocate for investing in renewables, we have member countries that are leaders in that aspect who are taking strides in investing in solar, nuclear, wind and others.

“We will continue to advocate for inclusiveness and open door policies as we have done in the past 64 years of OPEC creation,” he said.

Al-Ghais also said investment formed part of his meeting with Mr Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.).

The OPEC boss said that the NNPC Ltd. was taking massive strides to create an investment-friendly environment in Nigeria’s oil and gas sector.

The News Agency of Nigeria (NAN) reports that the visit saw the NNPC Ltd. and OPEC pledging to work together to achieve the nation’s aspirations to attract investments and grow production.

Al-Ghais said that OPEC’s vision aligned with that of NNPC Ltd.’s as captured in its payoff line – “Energy for Today, Energy for Tomorrow”.

This, he said, was because of its inclusive view of energy as opposed to the view being pushed in some quarters, that some sources of energy were bad.

According to him, OPEC will continue to ensure global energy market stability, which is needed to attract investors to Nigeria.

Tags: OPEC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021
Economy/Technology

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

June 6, 2025
Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
Next Post
Nigeria gets AfDB’s $14m as member of ATI

AfDB approves $150m agreement facility to boost trade in Eastern, Southern African

Consumer commission, CBN, EFCC investigate violations in money lending

Four directors of CBN confirmed by senate

Recommended Stories

Free public transportation for retirees begins in Lagos

Life expectancy rate increases in 2015 to 2022 – NBS

December 13, 2023
Power failure paralyses production at BMW’s plant

Power failure paralyses production at BMW’s plant

July 19, 2022
Council seeks incentives to boost indigenous ship operations

21 ships discharge products at Lagos ports

August 24, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nigeria’s 3MTT gets boost as EU, World Bank back initiative
  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us