Kuwait Petroleum Corporation CEO Shaikh Nawaf al-Sabah said oil demand will increase during the energy transition.
Global energy demand will increase faster than the rate of population growth through 2050, the CEO of the Kuwait Petroleum Corporation said.
HOUSTON — Global energy demand will increase faster than the rate of population growth through 2050, contradicting projections that demand will peak this decade, according to the CEO of Kuwait Petroleum Corporation. Three-quarters of a billion people in the developing world have no electricity and nearly 2.5 billion people have no clean cooking solutions, al-Sabah said.First Solar CEO says tariff exemptions threaten U.S.
Demand growth potential in developing nations is significant with oil consumption ranging between 1 to just below 2 barrels per person per year, Nasser said. That compares to 9 barrels per person in the European Union and 22 barrels per person in the U.S., he said.
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