Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 20 : 10-Feb-16

The International Energy Agency’s executive director, Fatih Birol, says investment in oil production is expected to fall by 16 per cent in 2016, following a 20 per cent downturn in 2015. He has warned that some higher-cost projects may be delayed or put on hold if the crude oil price remains at current levels. This in turn could increase reliance on oil from the Middle East, where geopolitical tensions could affect global oil supply. Birol also noted that Australia’s LNG projects will benefit global energy security in the long-term.

CORPORATES
INTERNATIONAL ENERGY AGENCY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE