Global oil, gas investments to hit USD 628 bln in 2022
Global oil and gas investments will expand by USD 26 billion this year as the industry continues its protracted recovery from the worst of the pandemic and the hurdles imposed by the Omicron variant, according to an analysis by Oslo-based Rystad Energy.
The analysis projects overall oil and gas investments will rise 4% to USD 628 billion this year from USD 602 billion in 2021.
A significant factor behind the increase is a 14% increase in upstream gas and LNG investments.
These segments will be the fastest-growing this year, with a jump in investments from USD 131 billion in 2021 to around USD 149 billion in 2022.
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