According to TotalEnergies CEO Patrick Pouyanné, what is the projected level of global oil demand by 2040, and why does he emphasize the need for adaptive measures?

Patrick Pouyanné, CEO of TotalEnergies, stated that global oil demand may remain above 100 million barrels per day even by 2040, underscoring that policymakers must acknowledge this reality while pursuing climate goals and proactively develop adaptation strategies. He stressed that maintaining this high level of demand necessitates pragmatic energy policies that balance decarbonization commitments with the continued operational and economic role of oil in the global energy system.

What dual strategic approach is TotalEnergies taking to address both fossil fuel dependence and climate objectives, as outlined by its CEO?

TotalEnergies is pursuing a dual strategy: sustaining its position as a leading oil and gas supplier—by expanding production through new projects in the U.S., Qatar, Iraq, Brazil, and Uganda—while simultaneously investing $5 billion annually in low-carbon fuels and renewable energy; this approach ensures strong financial performance and dividend payouts from fossil fuels, which in turn fund the company’s clean energy transition.

TotalEnergies CEO: Global Oil Demand to Continue Growing

Jun 30, 2026

TotalEnergies CEO asserts global oil demand will stay above 100 million barrels per day until 2040, prompting plans to expand production in key regions while maintaining $5 billion annual investments in low-carbon fuels.

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