CALGARY, Alberta, Sept 18 (Reuters) – The CEO of Saudi oil giant Aramco (2222.SE) said on Monday the notion of peak oil demand “weakens under scrutiny” because it is driven by policies rather than markets and competition. economy and technology.
Speaking at the World Petroleum Congress in Calgary, Aramco CEO Amin Nasser said the current energy transition narrative was based on unrealistic assumptions and scenarios.
“The result was an equally unrealistic energy mix and timing target,” Nasser said.
Last week, International Energy Agency (IEA) Executive Director Fatih Birol said new estimates showed the era of relentless growth in fossil fuels was coming to an end and demand would peak in 2030, a forecast that has drawn criticism from the Organization of the Petroleum Exporting Countries (OPEC). . Learn more
Reporting by Nia Williams
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