A ‘demand decade’ ahead for energy? BP, Baker Hughes CEOs weigh the investment outlook

Energy executives at the ADIPEC conference described rising demand for power, driven by artificial intelligence and electrification, as a major investment opportunity. They also warned that turning that demand into profitable projects is difficult, given geopolitical tensions, supply chain pressures and higher interest rates.

RWE chief executive Markus Krebber said computing capacity and its power needs are likely to expand, but perhaps slowly. BP chief executive Meg O’Neill said forecasts for global energy demand vary widely, complicating decisions on oil and gas projects that take years to develop and can operate for decades. She said BP needs to plan for a lower oil price environment.