• 3 minutes Electric cars may make driving too expensive for middle classes, warns Vauxhall chief
  • 6 minutes Natural gas mobility for heavy duty trucks
  • 12 minutes Colonial pipeline hack
  • 1 hour U.S. Presidential Elections Status - Electoral Votes
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 hour Texas Power Outage Danger Until June 18th. Texans told to conserve energy!
  • 16 mins Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 4 hours Federal Judge Says Biden Probably Wrong for Halting Drilling on Federal Land
  • 3 days And now, hybrid electric locomotives...
Colombia Reboots Oil Industry Despite Deadly Protests

Colombia Reboots Oil Industry Despite Deadly Protests

Colombia has restarted its economically…

Is The Oil Rally Nearing Its End?

Is The Oil Rally Nearing Its End?

After a momentous rally this…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

IEA: Global Energy Investment To Rise To $1.9 Trillion In 2021

Global energy investment this year is seen expanding by 10 percent from 2020 to $1.9 trillion, the International Energy Agency said in its World Energy Investment 2021 report.

Energy demand is also on the rebound, and it is a strong one, with the IEA expecting it to expand by 4.6 percent this year, more than making up for the 4-percent contraction of last year.

Investments in the power sector are set for a 5-percent increase this year, with renewables unsurprisingly taking the biggest share. These will account for 70 percent of 2021 investments in the power sector, or $530 billion out of a total $820 billion in power sector investments. The rest will be investments in energy storage and the grid.

Investments in oil and gas exploration and production are set to rise by 10 percent this year, driven by recovering demand and the resulting higher oil and gas prices. Yet, the IEA notes, spending will remain below pre-pandemic levels this year.

Some $740 billion is expected to be invested in clean energy technologies and efficiency this year as well. The IEA has noted that this amount still “remains far below what is required in climate-driven scenarios. Clean energy investment would need to double in the 2020s to maintain temperatures well below a 2°C rise and more than triple in order to keep the door open for a 1.5°C stabilisation.”

The amount invested in energy will vary significantly across countries, the IEA also noted. While developed economies have recovered relatively quickly from the pandemic, emerging economies are lagging behind. They also have fewer resources available to invest in energy, which is why, according to the IEA, emerging economies excluding China will only account for a third of energy investments this year and a fifth of clean energy investments, with the rest coming from developed economies.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Mamdouh Salameh on June 02 2021 said:
    The projection that Investments in oil and gas exploration and production are set to rise by 10% this year driven by recovering demand goes to confirm that a peak oil demand is nowhere to be seen. In fact it will never be seen throughout the 21st century and probably far beyond contrary to claims by the likes of IEA, Rystad Energy, Financial Times and BP to name but a few.

    Moreover, it is a slap in the face of the IEA who recently called for keeping global oil and gas reserves underground in its roadmap to zero emissions.

    Oil and gas will reign supreme well into the future.

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News