ADM Energy CEO on the need to create symbiotic relationships as oil & gas companies navigate the energy transition

As global oil and gas companies venture into new forms of energy investments, the World Economic Forum emphasizes the need for further action to fully embrace the energy shift. Osa Okhomina, the CEO of ADM Energy, recently shared insights on this transition in a CNBC Africa interview. During the discussion, Okhomina addressed concerns about the company's stock performance and highlighted the opportunities available in the current market. Despite fluctuations in stock prices, Okhomina remains optimistic about the future of the oil sector. He believes that oil prices will continue to strengthen over the coming years, as fossil fuels remain a reliable and affordable source of energy. Okhomina also touched upon the rebranding efforts of major companies like Shell, TOTAL, and Chevron, who have been transitioning towards green energy solutions. While some view these efforts as mere lip service, Okhomina explained that these companies are actively divesting non-core assets to focus on sustainable energy initiatives. This shift presents opportunities for independent companies like ADM Energy to acquire producing assets and generate significant cash flow. Okhomina emphasized the symbiotic relationship between independent companies and major oil corporations, where both parties benefit from strategic partnerships. Despite the growing momentum towards green energy, Okhomina stressed the importance of maintaining a balance between traditional fossil fuels and renewable sources. He argued that fossil fuels are essential for providing cheap energy to support the transition to greener alternatives. Okhomina dismissed the notion of guilt associated with investing in fossil fuels, highlighting the vital role these resources play in meeting global energy demands. He underscored the collaborative effort required to facilitate the energy transition, with both traditional and renewable energy sectors playing integral roles. Ultimately, Okhomina views the evolving energy landscape as an opportunity for collaboration and innovation, rather than a source of division or guilt. As the industry navigates these changes, companies like ADM Energy are poised to leverage strategic partnerships and seize new growth prospects in the evolving energy market.