Aramco CEO Urges Realistic Energy transition, Predicts Decades of Oil and Gas Demand
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Aramco’s President and CEO Amin Nasser is calling for a pragmatic reassessment of global energy transition policies, asserting that oil and gas will remain indispensable to teh world economy for the foreseeable future. Speaking at the Energy Intelligence Forum 2025 in London, Nasser emphasized the need for energy policies that prioritize sustainability, affordability, and reliability alongside continued economic growth.
The Backbone of the Global Economy
Nasser firmly reiterated that oil and gas continue to serve as the foundation of the global economy, while concurrently stressing the importance of bolstering all energy sources to meet escalating worldwide demand. “Oil and gas are still the backbone of the global economy,” he stated, signaling a cautious outlook on the speed and feasibility of transitioning away from fossil fuels.
The company’s vision extends beyond hydrocarbons, encompassing significant growth ambitions in gas and chemicals as well.Nasser noted a growing trend among analysts and forecasters to revise thier energy transition scenarios, a shift he believes could unlock further long-term investment across the energy spectrum.
Unrealistic Targets and Emerging Realities
According to nasser,overly ambitious and ultimately unrealized transition targets have yielded unintended consequences. He pointed to the current limitations of electric vehicles and renewables in meeting the pace of demand growth, even within developed economies.
“While electric vehicles and renewables are growing, they are not even covering demand growth and remain small in absolute numbers,” Nasser explained, adding that economic constraints and technological hurdles are prompting policy adjustments in several advanced nations.
Aramco’s Position and Future Investments
Aramco remains committed to maintaining its leadership in oil production, leveraging its substantial resource base, low production costs, and industry-leading low upstream carbon intensity. The company is also aggressively expanding its gas portfolio, citing access to some of the world’s largest reserves, including significant unconventional gas potential.
Furthermore, Nasser reaffirmed the strategic importance of the chemicals sector, building upon Aramco’s established strengths in feedstock supply and conversion technologies. Aramco has long been a primary revenue source for the Kingdom of Saudi Arabia.
Technology and a Balanced Approach
Aramco is heavily investing in advanced technologies, including the large-scale deployment of artificial intelligence across its operations. These efforts are supported by significant capital investments in infrastructure, talent acquisition, and a $7 billion (SR26.25bn) venture capital program.
The company is also dedicated to reducing carbon and methane emissions during early production phases while simultaneously expanding its presence in the new energy sector. Nasser described Aramco’s strategy as a “balanced” approach, designed to prepare the company for a realistic energy future and deliver sustained value to stakeholders and shareholders globally.
The Energy Intelligence Forum 2025
The Energy Intelligence Forum, held annually, brings together leaders from the energy, policy, finance, and business sectors to address global challenges and shape the future of the industry. This year’s forum in London focused
