• Most Popular
  • Most Shared

Oil & gas investment to fall 21 percent in 2009: IEA

DARWIN
Sun May 31, 2009 11:45pm EDT

DARWIN (Reuters) - The International Energy Agency (IEA) expects a 21 percent fall in 2009 oil and gas investment budgets, which could lead to sharply higher energy prices in the next three to four years, a top agency official said on Monday.

Richard Jones, deputy executive director of the agency, made the comment to a conference in the northern city of Darwin.

The agency conducts energy research and acts as advisor to 28 member countries.

(Reporting by James Regan; Editing by Mark Bendeich)


More from Reuters

Photo

Dubai World says to work with creditors in orderly way

DUBAI (Reuters) - Dubai World, which met its creditors on Monday, said it would work with lenders to seek a debt standstill in "an orderly way" and will get government financial support if an agreement is reached.

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review