MOSCOW, January 31. /TASS/. The peak of global oil consumption has not been passed yet, which is why it is necessary to continue investing in oil exploration, Chief Executive Officer of Russia’s geological holding RosGeo Sergey Gorkov said in an interview with TASS.
"I believe that the oil peak has definitely not been passed. Half of the population of the planet does not yet consume enough energy," he said.
Asked whether investing in oil exploration is worth continuing, Gorkov said: "It is not worth, it is necessary [to continue investing]."
No one has noticed a drop in global oil consumption yet, he stressed, adding that there are still large world regions and continents that did not develop fast previously, which is why there is quite a huge accumulated resource in the world for boosting energy consumption. "We are speaking about Latin America, about Africa. And I can say that even large Southeast Asian nations are far from reaching the volume of consumption that exist, say, in Europe or the US, or even in Russia," CEO explained.