He added at the “Middle East Oil and Gas 2023” conference in the United Arab Emirates that the world must focus on reducing greenhouse gas emissions, rather than replacing one form of energy with another, stressing that there is a need for major investments in all energies. sectors.
He added: “It is the truth that must be told.”
OPEC estimates that the world needs investments worth $12.1 trillion to meet growing demand for oil over the long term.
And the Secretary General of “OPEC” said in a press release in mid-May: “As populations and economies grow, the world will need more energy in the decades to come. In our 2022 global oil forecast, we expect global energy demand to grow 23% by 2045.” Achieving this growth and ensuring energy security, affordable access and emission reductions global transformations under the Paris Agreement require unprecedented energy, investment and cooperation.
Fereydoun Fisharky, chairman of the board of energy consultancy FGE, said the world could face a supply problem as global oil demand grows by around 8 million barrels. per day, as Western sanctions on Russian oil reduce production. growth.
He added that Russia can maintain its production at around 10 to 11 million barrels per day, but may not be able to increase it by two million barrels per day as planned in the coming period. due to Western sanctions.
The oil and gas sectors in Russia are subject to a set of Western sanctions aimed at restricting sales while capping Russian oil prices, due to the outbreak of the crisis in Ukraine in February 2022.
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