This footage was filmed and produced 19 March 2024.

The oil giants Saudi Aramco and ExxonMobil indicated this Monday that they observe difficulties in the transition strategy towards clean energy, within the framework of which their industry is considered "enemy", although it cannot be replaced.

"In the real world, the current transition strategy is visibly failing," said the Saudi state group's CEO, Amin Nasser, during a presentation at the CERAWeek by S&P Global energy forum in Houston, Texas.

He recalled that last year global energy consumption was still based on 82% of fossil fuels, according to a KPMG report. In addition, oil demand will reach record levels this year, according to projections from the International Energy Agency (IEA).

"This is not the future that some had predicted," Nasser said, believing it was unlikely that oil and gas would disappear from supply around 2050.

Nasser opined that, despite the "leading role" of the industry in "global prosperity", they are presented as "an archenemy of transitions."

"My proposal is this: we must put aside the fantasy of the end of oil and gas," Nasser argued. Instead, the world should "invest [in these energy sources] appropriately, to reflect realistic estimates of demand," he added.

This video illustrates various shots of the press conference.