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
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
