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Weixi Zeng
Oil and gas will continue to play a key role in the global energy system for many years to come in spite of the need for investment, according to BP CEO Bernard Looney.
"Oil and gas will continue to play a major role in the energy system for many years to come. Therefore, the industry's representatives will be important for a very long time," he remarked.
Energy companies must make investments in both current power networks and energy transit, according to Looney. "If we don't invest, the supply and demand will be out of balance. We can see the results of this: last year, we lost 3% of the global gas market, and energy costs more than doubled." The company's CEO added that he was referring to markets in both developing and developed nations.
source: reuters.com
"Oil and gas will continue to play a major role in the energy system for many years to come. Therefore, the industry's representatives will be important for a very long time," he remarked.
Energy companies must make investments in both current power networks and energy transit, according to Looney. "If we don't invest, the supply and demand will be out of balance. We can see the results of this: last year, we lost 3% of the global gas market, and energy costs more than doubled." The company's CEO added that he was referring to markets in both developing and developed nations.
source: reuters.com
