New Managing Director for Bellona Norway
The Board of the Bellona Foundation has appointed former Minister of Climate and the Environment Sveinung Rotevatn as Managing Director of Bellona No...
News
Lack of long-term investment slows hydrocarbons production
Publish date: March 31, 2006
Shortcuts on this page
News
Lack of long-term investment slows hydrocarbons production
A lack of investment in new deposits and poor reproduction of hydrocarbons is slowing down the development of the mineral sectors.
"Companies only find money to invest in production but not for the long-term prospective," said the chairman of the Federation Council’s committee for natural resources Viktor Orlov. According to Orlov, oil and gas production will exceed reproduction in the nearest 14 years. In other words, geological prospecting only replenished 60-65% of extracted reserves, RIA Novosti reported.
More News
All news
Norway’s environmental prosecutor fines Equinor a record amount following Bellona complaint
Økokrim, Norway’s authority for investigating and prosecuting economic and environmental crime, has imposed a record fine on Equinor following a comp...
The system built to manage Russia’s nuclear legacy is crumbling, our new report shows
Our op-ed originally appeared in The Moscow Times. For more than three decades, Russia has been burdened with the remains of the Soviet ...
Coalition building survives; climate ambition does not at the COP30 climate talks in Brazil
The United Nation’s COP30 global climate negotiations in Belém, Brazil ended this weekend with a watered-down resolution that failed to halt deforest...