Energy investment needed

Eni CEO Claudio Descalzi said at ADIPEC 2026 that the world needs oil and gas alongside clean energy sources, and that meeting growing demand driven by AI and data centres will require new investment in production, transport and infrastructure. He added that decarbonisation does not mean abandoning conventional fuels: emissions can be reduced using technologies such as carbon capture and biofuels, while renewables alone are not enough to provide a stable baseload. He said oil prices could remain above $80–$90 a barrel if the risk premium disappears. Descalzi noted that Eni had discovered an average of 900 million to one billion barrels of resources annually over the past 13 years and had increased its market value by around 73% in a year and a half, while targeting production growth of 4% to 5%. He also stressed the importance of diversifying supplies geographically, pointing to Eni’s cooperation with ADNOC on gas projects, including the Ghasha project.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article