Baker Hughes CEO Lorenzo Simonelli told CNBC at the ADIPEC energy conference in Abu Dhabi that a "demand decade" lies ahead, driven by AI, population growth, and developing nations. He expects capital investments in the energy sector to rise by a low-single-digit percentage in 2027.
BP CEO Meg O'Neill highlighted uncertainty in oil price forecasts and said the company needs to plan for a lower-price environment. Wide ranges in global energy demand projections matter because new oil and gas projects take years to develop and operate for decades.
RWE CEO Markus Krebber acknowledged the investment opportunity but cited geopolitical tensions, supply chain pressures, and higher interest rates as complications. He said electricity demand from AI and electrification is growing, but expansions in computing capacity and supporting power infrastructure "probably comes slow."
Schneider Electric CEO Olivier Blum noted that some Persian Gulf projects slowed due to the Middle East conflict, though he expects infrastructure opportunities to increase in the mid-term.
Richard Bronze, co-founder and head of geopolitics at Energy Aspects, told CNBC that oil markets could face oversupply in 2027 and 2028 if Middle Eastern flows return to normal.