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World needs $4.9 trillion oil and gas investments by 2030 to prevent shortfall: IEF

International Energy Forum report says annual upstream spending will need to increase from $499 billion in 2022 to $640 billion in 2030

Massive investments: International Energy Forum secretary general Joseph McMonigle.
Massive investments: International Energy Forum secretary general Joseph McMonigle.Photo: REUTERS/SCANPIX
  • Nishant Ugal
New Delhi
Published 16 February 2023, 13:22Updated 16 February 2023, 13:44
IEFMiddle EastSaudi ArabiaAbu DhabiRussia