Electricity investment surpasses O&G for the first time: IEAInvestments in electricity surpassed those in oil and gas for the first time ever in 2016 on a spending splurge on renewable energy and power grids as the fall in crude prices led to deep cuts, the International Energy Agency (IEA) said on Tuesday.
This decline (in energy investment) is attributed to two reasons," IEA chief economist Laszlo Varro told journalists.
"The reaction of the oil and gas industry to the prolonged period of low oil prices which was a period of harsh investment cuts; and technological progress which is reducing investment costs in both renewable power and in oil and gas," he said.
With the above being said why couldn't mgmt complete the sale!!!!!!!!!!!!
carlos