The CEO of TotalEnergies, Patrick Pouyanné, affirmed that it was “necessary” to put “new” oil fields into production, ensuring that demand for oil will continue to grow as the world population does.
The boss of TotalEnergies spoke during the general meeting of shareholders at the group’s headquarters in Paris. “The question is not so much when oil demand will start to fall as when it will fall by more than 4% per year,” said Mr. Pouyanné. “At this stage, the demand for oil continues to grow as the world population does,” he added.
The boss of TotalEnergies warned against the effects of a contrary orientation, which would result in an increase in oil prices which would reach “too high levels which would quickly become unbearable for the populations of emerging countries, but also for those of our developed countries.
Recently, he castigated “a new bible” regarding the recommendations of the International Energy Agency which bans all new oil and gas projects. Having been CEO for ten years, Patrick Pouyanné must be renewed for a three-year term during this meeting at his Defense headquarters.
On this occasion, he promised to “stay the course”, a way of standing out from his competitors BP and Shell, who have announced a slowdown in the pace of their energy transition. “I confirm to you, no need to say it, but if some doubt it, we will stay the course of this balanced strategy”, between oil and gas on the one hand, and low-carbon energies on the other, declared the CEO.
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