Abu Dhabi National Oil Co (ADNOC) Chief Executive Sultan al-Jaber said on Monday that zeroing out hydrocarbon investment due to natural decline could lead to a loss of 5 million barrels of oil per day a year from current supplies.
"The data is clear. If we zero out hydrocarbon investment ... due to natural decline ... we would lose 5 million barrels per day of oil each year from current supplies.
This would make the shocks we have experienced this year feel like a minor tremor," Jaber said speaking at [ADIPEC] industry event in Abu Dhabi. The world needs maximum energy and minimum emissions, he added.
(Reuters - Reporting by Maha El Dahan)
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