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Electricity Investment Exceeds Oil and Gas

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Fossils fuels are no longer the largest recipient of investment in the energy sector, the latest report from the International Energy Agency said Tuesday.

Investment in the electricity sector received the largest level of investment for the first time ever, growing its share by 12 percentage points to 43 percent between 2014 and 2016. In comparison, over the same period, investments in upstream (exploration and production) oil and gas fell 44 percent.

“The key finding is that (the) global energy industry spent last year 12 percent less than the previous year,” Fatih Birol, executive director of the IEA, told CNBC on Tuesday. “A big decline,” he described.

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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