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

IEF Middle East Saudi Arabia Abu Dhabi Russia

Published 16 February 2023, 13:22Updated 16 February 2023, 13:44