• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 1 hour EU has already lost the Trump vs. EU Trade War
  • 31 mins Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 45 mins Tesla Launches Faster Third Generation Supercharger
  • 42 mins ''Err ... but Trump ...?'' *sniff
  • 3 hours China's Renewables Boom Hits the Wall
  • 2 hours Passerby doused with flammable liquid and set on fire by peaceful protesters
  • 10 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 5 mins What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 9 hours Crazy Stories From Round The World
  • 20 hours Haaretz article series _ Saudi Arabia: A Kingdom in Turmoil | Part 1 - Oil Empire
Haley Zaremba

Haley Zaremba

Haley Zaremba is a writer and journalist based in Mexico City. She has extensive experience writing and editing environmental features, travel pieces, local news in the…

More Info

Is Upstream Investment Turning A Corner?

Oil

This week the International Energy Agency (IEA) released their annual World Energy Investment report (WEI), revealing that in 2016 energy investment plummeted by a staggering 12% from the previous year. In 2015, investors poured $1.9 trillion into the energy market, but in the past year investment dropped to a total of just over $1.7 trillion, a concerning prospect as global populations continue to boom, middle classes continue to expand at breakneck paces in places like India and China, and energy demand grows steadily around the world.

Most concerning is the bottoming out of upstream investment, which has plunged a staggering 44% between 2014 and 2016. The IEA is hopeful, however, about a modest rebound in 2017 after this year’s stunning 53% increase in US shale investment and healthy spending in heavy-hitting production regions like the Middle East, Russia, and Mexico. The agency predicts that thanks to this new cash flow, upstream investment will bounce back by 3% before the end of the year.

(Click to enlarge)

Shale oil and gas have exploded in the United States this year, with an extraordinary uptick in production and upstream investment, contrary to global trends. Russia is also going strong as it continues to power the rest of Europe with its massive supplies of oil and natural gas, but it’s looking like their monopoly is finally due for some competition as the U.S. rolls out its first shipments of liquefied natural gas to Europe…




Oilprice - The No. 1 Source for Oil & Energy News