Rising energy demand is creating new investment opportunities even as geopolitical risks and uncertain oil prices challenge the industry.
Baker Hughes CEO Lorenzo Simonelli is optimistic about the longer-term outlook, pointing to AI, population growth and developing nations as factors supporting continued energy demand growth.
"I think we have a 'demand decade' ahead of us," Simonelli told CNBC's Dan Murphy on "Access Middle East" at the ADIPEC energy conference in Abu Dhabi. "We're looking at very much seeing capital investments improve and increase over time," as growing consumption will require additional infrastructure to support demand.
However, turning that demand into profitability may be a challenge.
Markus Krebber, CEO of German energy company RWE, said AI and electrification were driving electricity demand, but geopolitical tensions, supply chain pressures and higher interest rates were complicating investment decisions.