{"id":21338,"date":"2025-11-15T06:12:30","date_gmt":"2025-11-15T05:12:30","guid":{"rendered":"https:\/\/dzwatch.dz\/?p=21338"},"modified":"2025-11-15T06:12:36","modified_gmt":"2025-11-15T05:12:36","slug":"opec-gecf-urge-increased-investment-in-global-hydrocarbon-sector","status":"publish","type":"post","link":"https:\/\/dzwatch.dz\/?p=21338","title":{"rendered":"OPEC, GECF Urge Increased Investment in Global Hydrocarbon Sector"},"content":{"rendered":"<p><strong>Vienna, Austria<\/strong> \u2013 The Organization of the Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum (GECF) have jointly emphasized the critical need for sustained, long-term investments in the global hydrocarbon sector. The call came during the 6th High-Level Meeting of the OPEC-GECF Energy Dialogue, held Friday in Vienna.<\/p>\n<p>The meeting, co-chaired by OPEC Secretary General Haitham Al Ghais and GECF Secretary General Mohammad Hamel, focused on developments and long-term prospects in the oil and gas markets, cooperation on energy data, and joint activities leading up to and during the upcoming COP30 conference.<\/p>\n<p>Both organizations cautioned against continued underinvestment, despite projected long-term increases in demand. An OPEC statement highlighted that the GECF\u2019s Global Gas Outlook 2050 projects a need for $11.1 trillion in investment to ensure future gas demand is met. Similarly, OPEC\u2019s World Oil Outlook to 2050 estimates the oil industry&#8217;s investment needs at $18.2 trillion.<\/p>\n<p>Al Ghais stressed the importance of clear communication to foster a favorable environment for long-term investments, reiterating the significance of oil and gas as affordable and reliable energy sources to meet growing global energy demand. OPEC forecasts a 23% increase in global energy demand by 2050. Global oil demand is projected to reach 123 million barrels per day, with oil and gas combined maintaining a share of over 50% of the global energy mix through 2050.<\/p>\n<p>The OPEC Secretary General noted that global natural gas consumption is expected to increase by 1.6% in 2025, while global oil demand will rise by 1.3 million barrels per day, calling them record numbers. Hamel added that natural gas remains the fastest-growing hydrocarbon fuel and a vital component of future energy systems, essential not only for power generation and industrial uses but also for providing cleaner cooking, cooling, and heating solutions globally. <\/p>\n<p>Based on the GECF Global Gas Outlook 2050, the Secretary General indicated that&#8230;<\/p>\n<p><a href=\"https:\/\/dzwatch.dz\/?cat=50\">More Economy articles on DZWatch<\/a><\/p>\n<p><a href=\"https:\/\/dzwatch.dz\">DZWatch &#8211; Your News Portal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vienna, Austria \u2013 The Organization of the Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum (GECF) have jointly emphasized the critical need for sustained, long-term investments in the global hydrocarbon sector. The call came during the 6th High-Level Mee&#8230;<\/p>\n","protected":false},"author":1,"featured_media":21339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_lock_modified_date":false,"cybocfi_hide_featured_image":"","iawp_total_views":0,"footnotes":""},"categories":[50],"tags":[],"class_list":["post-21338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economie-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/posts\/21338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21338"}],"version-history":[{"count":1,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/posts\/21338\/revisions"}],"predecessor-version":[{"id":21340,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/posts\/21338\/revisions\/21340"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/media\/21339"}],"wp:attachment":[{"href":"https:\/\/dzwatch.dz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}