TRAILBLAZER

“ While global market volatility and economic uncertainty remain , events during the first half of this year support our view that ongoing investment in our industry is essential — both to help ensure markets remain well supplied and to facilitate an orderly energy transition . In fact , we expect oil demand to continue to grow for the rest of the decade , despite downward economic pressures on short-term global forecasts .”

An advocate for fossil fuels as part of the cleaner energy transition As CEO of the world ’ s most valuable oil company , Nasser is outspoken on the need to continue using fossil fuels amidst the transition to cleaner energy . At the World Petroleum Congress in Houston , Texas , he explained that a lack of spending on oil production would lead to “ energy insecurity , rampant inflation and social unrest .”

At the same time , Nasser leads the company ’ s efforts to invest in cleaner technologies , including next-generation fuel-engine interfaces , crude oil-to-chemicals processes , and renewable energy applications . Aramco is also striving to minimise greenhouse gas emissions through the industry-wide Oil and Gas Climate Initiative ( OGCI ).

“ While there is a very real and present need to safeguard the security of energy supplies , climate goals remain critical , which is why Aramco is working to increase production from multiple energy sources — including oil and gas , as well as renewables , and blue hydrogen ,” said Nasser .

18 October 2022