US Unconventional Oil, NatGas Development Carrying Global Energy Spend, Says IEA

Global electricity investment overtakes oil

The International Energy Agency's World Energy Investment report sees global spending on energy fall by 12% overall in 2016, marking the second-consecutive year that investment has dropped as less money is poured into costly gas and oil infrastructure.

The electricity sector nevertheless for the first time surpassed the fossil fuel supply sector as the leading recipient of energy investment.

The IEA is still confident that the global oil and gas upstream investment will come back to growth this year, by about 6 percent.

For the very first time, ever investment in the electricity sector got the largest level of investment.

"The United States is a solid number two, Europe is a solid number three... but China by far is the first destination in terms of the investments", Birol said, noting that India also made a significant progress in developing its electricity sector a year ago.

The industry as a whole is also transforming itself by delivering large cost savings and focusing more on technology development and efficient project execution. And if we compare it with the investment of oil and gas sector than oil and gas investment fell 44 percent.

Total electricity investment was nearly flat at Dollars 718 billion in 2016 as growing network spending was offset by a drop in power generation spending.

Dr Fatih Birol, executive director at IEA, said, "Our analysis shows that smart investment decisions are more critical than ever for maintaining energy security and meeting environmental goals".

"As the oil and gas industry refocuses on shorter-cycle projects, the need for policymakers to keep an eye on the long-term adequacy of supply is more important".

"Even with ambitious climate-mitigation goals, current investment activity in oil and gas will have to rise".

In terms of the regional distribution of the energy investments, the IEA indicates that China continues to be the biggest energy investor, accounting for 21% of the total. Meanwhile grid operators spent some 10% of their investment in "modernising and moving from a pure electricity delivery business to an integrated platform for data and services, enabled by rapid progress in digital information and communications".

"Coal investment is coming to an end", Varro said.

In tandem the global energy system saw $1 billion in investment in battery storage for the first time previous year. More than 90% of investments are financed from the balance sheets of companies, governments and households, reinforcing the importance of sustainable industry earnings. Although renewables have become cheaper, clean energy rollout has nevertheless "stalled" on lower investments in hydro and nuclear, the report - World Energy Investment 2017 - says.

Related News:

  • LaVar Ball is the real puppet master

    He wasn't shy about getting his buckets, hitting 12 of his 26 shots while still finding the energy to track down nine rebounds. The sheer variety of how Tatum scores remains his most impressive selling point in summer league.
    Middle-earth: Shadow of Mordor Nemesis Forge Lets You Import Your Nemesis

    Middle-earth: Shadow of Mordor Nemesis Forge Lets You Import Your Nemesis

    As added incentive to get into the fray, you can try Shadow of Mordor free for the rest of the week through Xbox One or Steam . Middle-Earth: Shadow of War is coming to Xbox One, Xbox One X, PlayStation 4 , PS4 Pro and PC on 10th October 2017.
    Novak Djokovic beats Gael Monfils to claim Eastbourne title

    Novak Djokovic beats Gael Monfils to claim Eastbourne title

    It was the 12-time Grand Slam champion's first grass-court title since winning Wimbledon in 2015 and the 68th title of his career. Djokovic set about putting Monfils under pressure right away and was rewarded with a break in the first game of the match.
  • No Lonzo Ball, Brandon Ingram, other key Lakers for game vs. Kings

    No Lonzo Ball, Brandon Ingram, other key Lakers for game vs. Kings

    One anonymous National Basketball Association scout went so far as to say he'd be "pissed" if Ball sat out the game for his team. He feels like the media has made a bigger deal of it than it really is and didn't think Ball purposely sat out this game.
    My fight is to take forward Bapu's ideology: Meira

    My fight is to take forward Bapu's ideology: Meira

    She alleged that principles like transparency and the fight to end the caste system are " under threat " in the Modi regime. The DMK's unequivocal support had strengthened the Opposition's unity, she said.

    My Spidey-Sense Is Tingling! Watch 'The Best Parts: Spider-Man'

    He said: "I had my best mate, Harrison, with me through all this and having him with me has been my touchstone to reality". It's going to be the biggest movie of all time . "Putting on the suit is one of the coolest things", he says.
  • Police say Venus Williams legally entered junction in fatal crash

    Police say Venus Williams legally entered junction in fatal crash

    But Radar has obtained surveillance video of the crash and a new police report that indicates Williams , 37, may not be to blame. Lawyers for the Barson family and Williams agreed to share downloaded information about the crash in the next 72 hours.
    Total to sign $4.8-billion gas deal with Iran

    Total to sign $4.8-billion gas deal with Iran

    Also shared with Qatar, South Pars is Iran's section of the world's biggest gas deposit. This would allow foreign companies a greater level of certainty and incentive.
    Arrives in Milan ahead of transfer

    Arrives in Milan ahead of transfer

    Hakan Calhanoglu has confirmed he will be joining AC Milan from Bayer Leverkusen in the coming days and is excited for the new challenge in Serie A.
  • GOP senator targets consumer bureau arbitration rule for repeal

    GOP senator targets consumer bureau arbitration rule for repeal

    In the buildup to its proposal, the CFPB completed a congressionally mandated study on the use of mandatory arbitration clauses. But that will not stop many institutions from having to rewrite their policies to comply with the new 750-page rule.
    Aaron Judge and Gary Sanchez to compete in MLB Home Run Derby

    Aaron Judge and Gary Sanchez to compete in MLB Home Run Derby

    The slugger announced on the Yankees' Twitter account on Monday that he would participate in next week's Home Run Derby in Miami. It's a great thing for baseball that we may have a chance to see Judge and Stanton in a possible final for this event.
    Ram Nath Kovind, Meira Kumar in Hyderabad for election campaign

    Ram Nath Kovind, Meira Kumar in Hyderabad for election campaign

    One Tripura TMC MLA Dilip Sarkar is now in Delhi and he too has supported the decision, he said. Barman did not say anything about whom they will vote for in the July 17 presidential election.


Most liked

Trump says it's time for constructive work with Russia
Allegations of the Trump campaign's ties to Russian Federation have cast a shadow over Donald Trump's first five months in office. Leaders will " most likely" hold talks by phone this month, which will be followed by a summit, Poroshenko said.

Is Eminem's Ninth Album Really Coming Soon?
Eminem is now putting together his ninth studio album and has teamed up with his mentor on some of the new tracks. That came after he posted a photo with Eminem two weeks ago.

Federer, Djokovic wonder if Wimbledon courts can improve
Wozniacki will next face 24th-seeded CoCo Vandeweghe of the United States in the next round. A mishit diagonal forehand return gave Federer the mini-break on the first point.

Federer Conquers Nerves; Murray, Nadal Up Friday at Wimbledon
With twelve Grand Slam singles titles, it is hard to remain the greatest player in the sport for the entirety of a career. He played just one tournament - one on clay at that - in the lead-up to Wimbledon after a first round French Open exit.

BeiGene, Ltd. (NASDAQ: BGNE) Director Sells $1573250.00 in Stock
Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. Following the sale, the director now owns 55,000 shares in the company, valued at approximately $2,200,000.

Blac Chyna's Attorney Is 'Exploring All Legal Remedies' Against Rob Kardashian
Kardashian had also allegedly sent a series of racist and homophobic texts after images of Jones and Chyna appeared. We also know that Rob truly violated Chyna by posting nude photos of her, along with his bad display of anger.

Ben Affleck steps out with a new woman
Affleck and Shookus have been spending time overseas as the Oscar-winner finishes reshoots on the upcoming " Justice League ". Lindsay , 37, was also seen leaving the Argo actor's bachelor pad in Brentwood last month.

John Morgan Sues Florida for Smokeable Medical Marijuana
But now Morgan says that the Florida legislature has ignored the original goal of the amendment in favor of money and donors. Critics have slammed the idea of smokeable medical marijuana as just another way to legalize recreational marijuana.

Southern Alberta shaken by Montana quake
For residents in Spokane, which is the second most-populated city in Washington State , it will be particularly shocking. Reports from Helena, southeast of the quake, mentioned a fairly strong aftershock a few minutes after the first shaker.

Building at Sheffield Children's Hospital fails fire cladding test
The new arrangements are being undertaken with the consent of the new council leadership rather than being imposed. The official death toll prior to this new discovery was 80 and only 21 victims have been formally identified.

Manchester Airport evacuated after 'suspect item' found
It is the smallest terminal at Manchester Airport and is used for domestic flights as well as some flights to the U.S. and Europe. It comes after holidaymakers faced chaos yesterday when the airport's Terminal 1 was evacuated due to a major leak.

Flower breed named after Modi in Israel
They have marched on regardless of adversity and converted challenges into opportunities. The tides between our talented innovative people is natural.

Woman throws coins at plane's engines for luck
Often you must have seen Indians tossing coins out of a train's window at a river body below when the train passes over a bridge. The pilot told the media that the coins could have inflicted serious damage on the engine if they had not been detected.

Early mistakes costly for Blue Jays starter Francisco Liriano
We win 11 in a row we're right back in the hunt, and we're not even that far out of the wild card if you look at the numbers". The way things have been going for the Jays at the plate, putting together a lengthy run needs an "if" asterisk attached.

PM Modi 'experiments' for country's betterment: Manjhi on GST rollout
GST, he said, was really a Good and Simple Tax which would just take a little getting used to like every new pair of spectacles. The integration of the Indian economy into a single entity will improve economic efficiency, it said.