Outlook 2025: Asia continues to dominate hydrocarbon processing investment
The region accounts for the biggest share in terms of capital investment in the $2t market
The world’s population is projected to increase from nearly 8b in 2024 to approximately 9.8b by 2050, according to the UN. This stark rise—combined with an increase in the global urbanisation rate—will significantly boost primary energy consumption. Although renewable energy is forecast to see the highest growth rate in energy consumption to 2050, crude oil is projected to retain the largest market share within the forecast period. For example, according to OPEC’s World Oil Outlook 2023, renewable energy consumption is forecast to increase by up to 34% between 2022 and 2045, while oil and natural gas are expected to grow by approximately 15% and 20% respectively. However, renewable energy co
Also in this section
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
