Banking on oil and gas

Profile

pgs7-fournier-gif

Asia is starved of energy. The region consumes more than 20 million barrels of oil per day, around 50% of which is imported. And demand is expected to double over the next decade due to rapid economic growth, while oil import dependency is predicted to surge to 80% by 2030. Massive demand from China, which turned from net oil exporter to importer in 1993, has been a major contributor to soaring energy prices worldwide, while Indonesia, an Opec member, is also likely to turn from net