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Mideast tensions top risk facing energy markets, says BP CEO
Global Banking & Finance Review®
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ABU DHABI – Tension in the Middle East is the top risk facing energy markets, BP CEO Murray Auchincloss told an industry event in Abu Dhabi.
ABU DHABI – Tension in the Middle East is the top risk facing energy markets, BP CEO Murray Auchincloss told an industry event in Abu Dhabi.
Auchincloss also said that the world will require a lot of new investment in oil and gas in order to maintain supplies, regardless of a possible settling of demand in the coming years.
(Reporting by Ron Bousso, Editing by Louise Heavens)
Oil and gas are fossil fuels formed from the remains of ancient marine organisms. They are primary energy sources used for heating, electricity, and powering vehicles.
Energy markets are platforms where energy commodities, such as oil, gas, and electricity, are bought and sold. They play a crucial role in determining energy prices and availability.
Investment refers to the allocation of resources, usually money, into assets or projects with the expectation of generating a profit or income over time.
Risk management is the process of identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events.
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