Electricity eclipses oil, gas

THE electricity sector attracted the largest share of energy investments in 2017, sustained by robust spending on grids, exceeding the oil and gas industry for the second year in row, as the energy sector moves toward greater electrification, according to the International Energy Agency’s latest review of global energy spending.

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IEA executive director Dr Fatih Birol

Global energy investment totalled $1.8 trillion in 2017, a 2% decline in real terms from the previous year, according to the World Energy Investment 2018 report.