Executives from major oil companies clashed over the prospects of oil and gas for the future at the first virtual edition of the CERAWeek conference in Houston.

While BP’s Bernard Looney and Shell’s Ben van Beurden boasted about their shift away from their core business and into renewable energy, Baker Hughes, Hess Corp., and Spain’s Repsol were among those believing that fossil fuels have yet to leave the scene for good, the Houston Chronicle’s Paul Takahashi reports.

“We’ve been an oil and gas company for 112 years, and I think this is a moment where we do have to reinvent the company,” BP’s Looney said. “We decided to really embrace that energy transition, more as a massive opportunity and not look at it as some sort of threat to our core business.”

“Hydrocarbons are still going to be essential for providing energy to the world, especially in the near term,” Baker Hughes’ Lorenzo Simonelli said, echoing an earlier statement that “There is no scenario where hydrocarbons disappear,” as expressed in his opening speech at the Baker Hughes annual meeting held last month.

As per the Houston Chronicle’s report, Hess Corp. and Carlyle International Partners shared their belief that demand for oil and gas will, in fact, rise over the next ten years despite the international push towards cleaner energy sources.