IEA: Global Energy investments to rebound in 2021

A new annual report issued by the International Energy Agency shows that global investments in energy will increase in 2021, by almost 10%, compared to 2020, to reach $ 1.9 trillion, after recovering most of the last year decline.

The report adds that with the return of the volume of investments in the field of energy to pre-crisis levels, its structure will shift in favor of the electricity sector, as by the end of the year, global investments in the electricity sector will increase by about 5%, to reach more than 820 billion dollars, which is the highest level for years.

As for investments in the fields of oil and gas exploration and production, their volume will increase by about 10%, as oil and gas companies will recover financially from last year’s crisis, but their costs are still much lower than these costs were before the crisis.

It is worth noting that global investments in energy for the year 2020 were the lowest ever, due to the outbreak of the Corona pandemic.