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Browsing: oil & gas industry in Africa
- Aramco CEO says the energy industry should “abandon the fantasy of phasing out fossil fuels.”.
- At the moment, green energy solutions are too expensive for commercial viability.
- For Africa, while leaders welcome green energy investments, they continue to sign ambitious investments to explore oil & gas.
Green energy transition is facing challenges as global leaders in oil production, Saudi Arabia says current initiatives have failed and calls for more investment in oil. “New energy sources can complement fossil fuels but not replace them, he said. Investment in all sources of energy was needed to meet global energy demand,” quoted the CEO of Saudi Arabia oil giant Aramco.
The CEO of the world’s largest oil company goes on to point out; “the current strategy of prematurely switching to immature alternatives has been so self-destructive.”
According to him, “new sources cannot even meet the growth in demand.” In a previous conference he
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