Global Energy Investment in 2015 Dropped by 8% due to Fall in Oil, Gas Financing

Global energy investment in 2015 amounted to United States dollar (USD) 1.8 trillion, down 8% (in real terms) from 2014 mainly due to a sharp fall in upstream oil and gas investment, according to the report of the International Energy Agency.

MOSCOW (Sputnik) — Global energy investment in 2015 decreased by eight percent on a year to year basis due to fall in oil and gas investment, the International Energy Agency said in its monthly report.

"Global energy investment in 2015 amounted to United States dollar (USD) 1.8 trillion, down 8% (in real terms) from 2014 mainly due to a sharp fall in upstream oil and gas investment," the report dubbed World Energy Investment 2016 read.

China became the top energy investment destination, surpassing the United States, because of record level of electricity sector investment.

Structural changes in the economies of Europe, Japan and the United States with the services sector dominance make them more energy efficient. Despite the changes, oil and has still account for the largest category of global energy investment, a 45 percent, but investment in electricity hits record numbers, $690 billion, or over 37 percent.