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Conventional oil and gas investment remains key

Growing conventional hydrocarbon production should still be a priority as the energy transition takes shape

Investment in conventional oil and gas remains a core component and challenge in the short-to-medium term, despite the move towards a long-term lower-carbon future energy mix, delegates heard today at Petroleum Economist's 5th Annual GCC Energy Strategy Forum in Kuwait City. While renewables represent the largest growth area in new energy supply, maintaining and growing conventional hydrocarbon production to meet increasing global energy demand is essential, said Andy Brogan, Global Oil and Gas Transaction Advisory Services Leader at consultancy EY in a keynote address. And the current $430bn/yr investment is not enough to keep up with current demand trends, only matching as the minimum req

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