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IEA reports global electricity investment, MidEast oil hikes
The International Energy Agency’s World Energy Investment 2016 (WEI 2016) report “shows the electricity sector leading a broad reorientation of energy investment”, as upstream oil and gas spending has slumped. The Paris-based agency’s data show an impressive rate of acceleration in renewable energy (RE) investment – not least in leading Middle East economies such as the UAE. However, oil will continue to play an essential role in both the Gulf region and the global economy.
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