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Energy sector hit by COVID-19, price stability crucial: Mukesh Ambani at Saudi's FII conference

In his virtual address at Future Investment Initiative on January 27, RIL Chairman Mukesh Ambani said a consumer country, and he as a consumer, 'would like to dream about stability in prices'.

January 27, 2021 / 10:58 PM IST
RIL chief Mukesh Ambani virtually addressing FII conference.

RIL chief Mukesh Ambani virtually addressing FII conference.

 
 
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Reliance Industries Ltd (RIL) Chairman Mukesh Ambani stressed on "price stability" as he spoke on the challenges before global energy sector at Saudi Arabia’s flagship investment conference that began on January 27.

In his virtual address at the Future Investment Initiative (FII), Ambani said a consumer country, and he as a consumer, "would like to dream about stability in prices".

The global energy industry was severely hit by the COVID-19 pandemic, Ambani said, adding that "we have not only seen a drop in consumption but also a drop in investments".

According to the World Energy Outlook 2020, the global energy demand was set to drop by 5 percent in the past year, whereas, the energy investment was expected to dip by 18 percent.