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Economics

Oil, gas investment set to recover slightly: IEA

There was an "unprecedented contraction" in 2016 and 2015 in face of stubbornly low energy prices, the organisation says.

11.07.2017

(AFP) Investment in the oil and gas industry will see a tentative recovery in 2017 after an "unprecedented contraction" in 2016 and 2015 in face of stubbornly low energy prices, the International Energy Agency said in a report on Tuesday.

The IEA said upstream oil and gas investment -- such as in exploration and production facilities -- fell 26 percent in 2016 in nominal terms to $434 billion (€380 billion), similar to the decline seen 2015.

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