However, investments have fallen sharply and we are not preparing production for the years 2019-2020, at this rhythm, there could be a shortfall of supply and a counter shock. There could be a shortfall of about 5 million barrels in that horizon, which is a lot. All of this because volatility has been extreme.

Patrick Pouyanne

Categorized in : Energy

The shale oil is not there because you have some bottlenecks on the infrastructure but it will come end of next year. Don't forget it, it will come.

Patrick Pouyanne

The best way to be sanction bullet proof is to have no sanction. by Patrick Pouyanne

The best way to be sanction bullet proof is to have no sanction.

Patrick Pouyanne

The forum is clearly more active this year. I'm meeting more peop... by Patrick Pouyanne

The forum is clearly more active this year. I'm meeting more people this year, people are adapting.

Patrick Pouyanne

We don't need a law to impose it on us because it will become a slippery slope, i am convinced that for some of my colleagues, their headquarters will leave France if laws like that are passed.

Patrick Pouyanne

My colleague at BP saw his wages increased by 20 percent, but this was rejected at the annual general meeting.

Patrick Pouyanne

This year, experts see demand at about 1.2 million barrels per day, me and my team see it at about 1.4 million barrels per day, which is still strong and means the market is rebalancing, but will not rebalance completely by the end of the year, however, it will somehow support prices.

Patrick Pouyanne

We are all still investing in projects we decided in 2012-2013 and 2014. These projects will be put in production in 2016, 2017 and still 2018, i am not sure we participated in the stabilization of the market, but you know, there is only one good reaction when you face a crisis, that is to be selfish and produce as much cash as you can.

Patrick Pouyanne

Iran will probably be able to put in the market 400-500,000 bpd b... by Patrick Pouyanne

Iran will probably be able to put in the market 400-500,000 bpd but then after it would take time.

Patrick Pouyanne

I am in favour of renewables. by Patrick Pouyanne

I am in favour of renewables.

Patrick Pouyanne

We have fields on the U.S. East Coast and my instructions have been pretty clear -- we will limit investments, i can come back in one year when prices come back.

Patrick Pouyanne

The cycle will come back and higher prices will come back. by Patrick Pouyanne

The cycle will come back and higher prices will come back.

Patrick Pouyanne