Aramco CEO says notion of peak oil demand driven by policies, not markets | Reuters
The CEO of Saudi Arabian oil giant Aramco (2222.SE) on Monday said the notion of peak oil demand is "wilting under scrutiny" because it is being driven by policies rather than markets, competitive economics and technology.
Speaking at the World Petroleum Congress in Calgary, Aramco CEO Amin Nasser said the narrative of the current energy transition was based on unrealistic assumptions and scenarios.
"The result has been an equally unrealistic target energy mix and timeline," Nasser said.
Last week the executive director of the International Energy Agency (IEA) Fatih Birol said new estimates showed the age of relentless fossil growth is ending and demand would peak in 2030, a forecast that drew criticism from the Organization of the Petroleum Exporting Countries (OPEC). read more
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