Outlook 2025: Asia continues to dominate hydrocarbon processing investment
The region accounts for the biggest share in terms of capital investment in the $2t market
The world’s population is projected to increase from nearly 8b in 2024 to approximately 9.8b by 2050, according to the UN. This stark rise—combined with an increase in the global urbanisation rate—will significantly boost primary energy consumption. Although renewable energy is forecast to see the highest growth rate in energy consumption to 2050, crude oil is projected to retain the largest market share within the forecast period. For example, according to OPEC’s World Oil Outlook 2023, renewable energy consumption is forecast to increase by up to 34% between 2022 and 2045, while oil and natural gas are expected to grow by approximately 15% and 20% respectively. However, renewable energy co
Also in this section
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
27 March 2025
Awards celebrate global innovation, leadership and achievement across the energy sector’s people, projects, technologies and companies.
26 March 2025
Well-functioning democracies are required for healthier economies and a thriving oil industry
