Sub $30 Oil Negative on Renewables -Total's Pouyanne

Crude oil at below $30 per barrel has a negative impact on the profitability and investments in renewable energies, Total's Chief Executive Officer Patrick Pouyanne, told a forum in Davos in Thursday.

 

Oil prices have fallen to multi-years lows in due to a persistent global supply surplus.

 

"Today at $30 a barrel, I'm sorry," Pouyanne said.

 

"I'm a big investor in solar and I was advocating that we have 20 countries where we could make solar profitable. It is not true today. At $30 a barrel, there is not a single one," Pouyanne said.