{"id":438159,"date":"2021-09-25T10:37:23","date_gmt":"2021-09-25T05:07:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=438159"},"modified":"2021-09-25T11:30:11","modified_gmt":"2021-09-25T06:00:11","slug":"global-oil-and-gas-investment-will-be-30-below-pre-covid-level-ongc","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/global-oil-and-gas-investment-will-be-30-below-pre-covid-level-ongc\/","title":{"rendered":"Global oil and gas investment will be 30% below pre-Covid level: ONGC"},"content":{"rendered":"<p>Global investment in the upstream oil and gas sector will be around 30 per cent below pre-pandemic levels according to Oil and Natural Gas Corporation (ONGC) Chairman, Subhash Kumar.<\/p>\n<p>Delivering his speech at the 28th Annual General Meeting of the company, Kumar said, \u201cLast year, global upstream investments sank to a 15-year low at $350 billion, as operators focused predominantly on conserving cash flows and protecting their balance sheets by cutting their expenditures. While investments are expected to increase by 3-4 per cent this year, it would still be around 30 per cent lower than pre-pandemic levels.\u201d<\/p>\n<p>\u201cThese developments, besides confirming the fabled fickle natured unpredictability of oil and gas prices, are also pointers toward the fact that oil and gas being vital sources of energy, are starved of much needed capital,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global investment in the upstream oil and gas sector will be around 30 per cent below pre-pandemic levels according to Oil and Natural Gas Corporation (ONGC) Chairman, Subhash Kumar. Delivering his speech at the 28th Annual General Meeting of the company, Kumar said, \u201cLast year, global upstream investments sank to a 15-year low at $350 billion, as operators focused predominantly on conserving cash flows and protecting their balance sheets by cutting their expenditures. While investments are expected to increase by 3-4 per cent this year, it would still be around 30 per cent lower than pre-pandemic levels.\u201d \u201cThese developments, besides [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-438159","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/438159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=438159"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/438159\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=438159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=438159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=438159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}