Energy Transition

BP: Upstream investments may top $400 billion per year until 2030

Even energy transition scenarios in line with Paris climate targets will require steady investment in new upstream oil and gas activity, BP’s chief economist says

Steady investment: BP chief economist Spencer Dale forecast that between $325 billion and $405 billion will be invested annually in global upstream through to 2030.
Steady investment: BP chief economist Spencer Dale forecast that between $325 billion and $405 billion will be invested annually in global upstream through to 2030.Photo: BP
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Published 30 January 2023, 19:18Updated 31 January 2023, 22:13