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By 2030, fossil fuel companies will invest €800 billion in new oil and gas fields

 Last Update: 2023-03-01
 Source: Internet
 Author: User

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According to Oil & Gas News on April 14, the world's largest oil and gas companies, including Shell, ExxonMobil and Gazprom, are expected to invest 857 billion euros
in new oil and gas fields by 2030.

New research from Global Witness and Oil Change International suggests that this figure could grow to a staggering €
1.
4 trillion by 2040.
All 20 companies surveyed by the two NGOs claim to support the Paris Agreement's goal
of limiting global warming to 1.
5 degrees Celsius.

Just a week ago, U.
N.
Secretary-General Antonio Guterres called investing in new oil and gas "moral and economic madness
.
"

According to the IPCC's latest report, new oil and gas projects will push the world far beyond the safe limits
of global warming.
The world's leading climate scientists warn that we need to reduce the use of fossil fuels to meet emissions targets
.

Since the release of the United Nations report on April 4, seven new oil and gas projects have been approved
.
The new study from Global Witness shows that the world's largest fossil fuel companies will still be investing billions of dollars
in new projects over the next decade.

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