According to Dow Jones February 21, Arnaud Breuillac, president of the exploration and production business of the French oil giant Total, said in an International Petroleum Week in London on Tuesday that about half of global energy demand by 2040 will still come from oil and natural gas.
However, Breuillac said Total gas projects are projected to outstrip oil projects over the next 20 years. He added: "We need to integrate the natural gas value chain. In oilfield development, we need to find performance-resilient petroleum projects. We will be more careful in selecting projects and improving efficiency."