French energy giant Total predicts the end of the oil era

According to oil and gas titan Total, its business focus, like that of its European peers, will shift to low-carbon energy sources in the coming years as the oil market becomes increasingly stale.

Total anticipates a potential peak for oil over the next decade before hitting a low in 2030, noting that natural gas "remains key" to the energy industry, according to Total's president of strategy and innovation, Helle Kristoffersen.

Read also

• The oil and gas multinational Wood Group is receiving resumes for several job openings in an offshore regime, in Rio de Janeiro, on the 02nd
• In Petrobras projects, Infotec receives resumes on this day (02) for middle and higher level job vacancies in Macaé, RJ, MG, BA, ES, GO, AM and PE
• One of the largest steel complexes in the world launches a selection process in RJ, MG and SP for those looking for their first job as a Young Apprentice

End of the oil and gas era?

While the French energy giant's forecast is considerably more conservative than that of its British rival BP, which earlier this month said the era of the oil market was over, it still joins the ranks of investors predicting drastic changes. for the sector.

O Total's Energy Outlook report, published on Tuesday, focuses on rising energy demand across all scenarios analysed, but is expected to be largely met by low-carbon energy.

Search for alternative electricity sources should increase from 30 to 40 percent, according to Total

Demand for electricity will reach 30 to 40 percent of the total by 2050, significantly up from the current 20 percent, the report says, outlining a positive outlook for the company's main product, natural gas, an intensive bridge fuel in the coming years to a carbon-free priority.

The company said that demand for gas should be led by Asia, which will be responsible for about 40% of world growth, doubling demand from China and India. Peak demand and gas production is not expected before 2040.

Like its other European partners, Total, one of the world's seven so-called "super-biggest" oil companies, is focused on clean alternative sources of energy such as solar and wind, focusing its business on promising solar battery technologies and power-charging networks. cars, which should be on the rise soon.