Meeting energy needs requires commitment, endurance

Meeting the world’s growing energy needs requires commitment and endurance by industries, governments, and people from all over the world, Rich Kruger, president of ExxonMobil Production Co., said in a keynote address at the 2009 International Petroleum Technology Conference in Doha.

Offshore staff

DOHA, Qatar -- Meeting the world’s growing energy needs requires commitment and endurance by industries, governments, and people from all over the world, Rich Kruger, president of ExxonMobil Production Co., said in a keynote address at the 2009 International Petroleum Technology Conference in Doha.

ExxonMobil has maintained its capital investment program through the economic downturn and plans to spend $25 billion to $30 billion annually over the next five years on energy projects around the world. “These are record investment levels, made possible by our long-term view of industry cycles and our financial discipline,” Kruger said.

Energy efficiency is critical in meeting growing energy needs, according to Kruger. “It’s effectively the single greatest supply of energy that we have available right now. We estimate that by 2030, the amount of energy saved through efficiency gains will be equivalent to approximately 145 MMbbl/d, or about twice the amount of new energy from all sources.”

12/07/2009

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