Aramco President and CEO Amin Nasser has urged world policymakers to undertake a extra life like strategy to vitality transition, warning that oil and gasoline will stay crucial to the worldwide economic system for many years.
Talking on the Power Intelligence Discussion board 2025 in London, Nasser stated present insurance policies should be certain that vitality stays sustainable, reasonably priced, and reliably accessible, whereas supporting world development.
Throughout his deal with, Nasser reaffirmed that oil and gasoline stay the spine of the worldwide economic system, stressing the necessity to strengthen all vitality sources to satisfy rising world demand.
‘Oil and gasoline are nonetheless the spine of the worldwide economic system’
He additionally highlighted Aramco’s long-term development ambitions, spanning oil, gasoline, and chemical compounds.
He famous that many forecasters and analysts are revising their vitality transition situations to make them extra life like, a shift that he stated may function a inexperienced gentle for long-term funding in each sectors.
Nasser identified that unrealistic transition targets have didn’t materialise and have led to unintended penalties, notably as electrical autos and renewables haven’t but met the tempo of demand development — even in superior economies.
Aramco imaginative and prescient
“Whereas electrical autos and renewables are rising, they don’t seem to be even protecting demand development and stay small in absolute numbers,” Nasser stated, including that financial realities and know-how limits are prompting coverage U-turns in a number of superior nations.
On the corporate’s efficiency, Nasser stated Aramco stays decided to steer in oil manufacturing because of its huge useful resource base, low prices, and one of many business’s lowest upstream carbon intensities.
He added that Aramco can also be accelerating in gasoline, stating: “We have now a number of the world’s largest reserves, together with important potential in unconventional gasoline,” he stated, affirming the corporate’s willpower to considerably improve gasoline manufacturing.
Nasser reaffirmed that chemical compounds stay a key long-term development space, supported by Aramco’s established strengths in feedstocks and conversion capabilities.
Know-how and funding focus
He additionally underlined Aramco’s use of superior applied sciences, together with the deployment of synthetic intelligence at scale throughout its operations.
These efforts are supported by main investments in infrastructure, top-tier expertise, and a SR26.25bn ($7bn) enterprise capital programme.
Nasser stated the corporate stays dedicated to decreasing carbon and methane emissions in early manufacturing levels whereas strengthening its presence within the new vitality sector.
He described Aramco’s strategy as a balanced technique, designed to arrange the corporate for a practical vitality future and ship long-term worth to stakeholders and shareholders globally.
Power Intelligence Discussion board 2025
The Power Intelligence Discussion board is an annual gathering of leaders from the vitality, coverage, finance, and enterprise sectors, targeted on addressing world challenges and shaping the business’s future.
This 12 months’s version in London examined the influence of commerce protectionism on the vitality system and the complexities of the worldwide vitality transition.
Keep forward of the curve with NextBusiness 24. Discover extra tales, subscribe to our e-newsletter, and be part of our rising group at nextbusiness24.com
