Saudi Aramco is planning to invest $300bn over the next decade © Saudi Aramco
Saudi Aramco is planning to invest $300bn over the next decade © Saudi Aramco

Oil industry facing $1tn investment shortfall

25 July 2017

A steep drop in discoveries of new oilfields and falling investment in production mean the world could be heading for a fresh oil shortage, the CEO of Saudi Aramco has warned.

Amin H. Nasser, president and CEO of Saudi Aramco, highlighted that oil would continue to play a vital source of energy in the long term, despite the growth of alternatives.

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