Australian Petroleum Producer and Explorer Association
The keynote speaker is none other than Saudi Arabia’s oil minister ‘His excellency’ Ali Al-Naimi.
The International energy Agency (IEA) estimates global energy demand will increase by ONE THIRD in the next 25 years. That’s a huge jump.
Most importantly the IEA reckon China and India will account for HALF of this growth.
Aussie firms are making a colossal bet on things panning out like this. The total investment in Australia’s oil and gas sector in the period to 2020 is estimated to be $330 billion.
The CEO of Total S.A. [NYSE: TOT] one the world’s biggest oil companies is also talking about turning Australia into a ‘global energy hub on par with the Middle East Canada and Russia’.