Accenture: The oil and gas industry still has good returns and demand is expected to continue to rise.

Muqsit Ashraf, Group CEO of Strategy at Accenture, stated at the Energy Asia conference that the oil and gas industry is still a good investment. He pointed out that the industry continues to maintain a double-digit return on capital, while the return on renewable energy is lower. He also stated that demand is expected to continue to rise, with oil consumption possibly increasing in the next 5-10 years and natural gas demand expected to grow by 30% to 40% in the next 10 years. He also mentioned that the industry is facing a natural decline in shale oil production, which must be replaced or supplemented, therefore requiring ongoing investment.