Global energy consumption to rise next year
Sunday, 27 December 2009
The total energy consumption in the OECD economies is expected to continue to witness a decreased growth in 2009. However, with the global economy expected to recover in 2010, energy consumption in the OECD economies is expected to grow. The improving economic conditions in 2009 and the expected recovery in 2010 will further drive the growth in energy consumption in these economies.
The uncertainty in the global economic outlook, highly volatile commodity prices and tight credit availability had a negative effect on the deal activity thereby decreasing the deal activity in the later part of 2008. Since then, the commodity prices have been increasing and the global economy is showing some signs of recovery from the recession. Global economy is expected to grow at a positive rate in 2010. These factors and comparatively lower asset valuations is expected to usher a new wave of merger and acquisition in the upstream oil and gas industry by the end of 2010.
The uncertainty in the global economic outlook, highly volatile commodity prices and tight credit availability had a negative effect on the deal activity thereby decreasing the deal activity in the later part of 2008. Since then, the commodity prices have been increasing and the global economy is showing some signs of recovery from the recession. Global economy is expected to grow at a positive rate in 2010. These factors and comparatively lower asset valuations is expected to usher a new wave of merger and acquisition in the upstream oil and gas industry by the end of 2010.