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$20bn oil investment needed
- Thursday, June 08 - 2006 at 07:20
Investments of more than $20bn a year in global oil refining is required up to 2030 to meet capacity targets, according to Fatih Birol, chief economist at the Paris-based International Energy Agency quoted by Meed magazine. Refinery capacity has not increased in line with demand. According to Meed Projects there are more than $59bn worth of refinery projects in the GCC, Iran and Iraq.
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James McInerney, News EditorThursday, June 08 - 2006 at 07:20 UAE local time (GMT+4)
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