Aramco CEO Calls for Realistic Energy Transition Strategies
Amin Nasser, the President and CEO of Aramco, recently addressed the need for global policymakers to reassess their energy transition strategies. Speaking at the Energy Intelligence Forum 2025 in London, he emphasized that oil and gas will continue to play a crucial role in the global economy for many years to come.
The Need for Sustainable Energy Policies
During his keynote address, Nasser stressed the importance of ensuring that energy remains sustainable, affordable, and reliably available. He argued that current policies should not only focus on transitioning to renewable sources but must also support economic growth worldwide. Nasser’s remarks underscore the essential role of traditional energy sources, such as oil and gas, in meeting the rising global demand.
Oil and Gas: The Backbone of Economic Growth
Nasser reiterated his belief that oil and gas are integral to the global economy. He highlighted Aramco’s ambitions for long-term growth, which focus on oil, gas, and chemical sectors. Many analysts and forecasters are adjusting their energy transition models to reflect more realistic expectations, and Nasser sees this shift as an opportunity for long-term investments across both traditional and renewable energy sectors.
He pointed out that overambitious transition targets have often led to unintended consequences. In many advanced economies, the growth of electric vehicles and renewable energy has not kept pace with rising demand. This mismatch is prompting a reevaluation of policies geared toward energy transition.
Aramco’s Commitment to Oil and Gas
With significant reserves and some of the industry’s lowest production costs, Aramco is poised to lead in oil production. Nasser noted that while electric vehicles and renewable energy are increasingly relevant, they are still unable to meet overall demand growth as they remain relatively small in absolute numbers. He mentioned the economic realities and technological limitations that are causing various countries to reconsider their energy strategies.
In addition to oil, Aramco is accelerating its focus on gas production. “We have some of the world’s largest reserves, including significant potential in unconventional gas,” Nasser remarked, emphasizing his commitment to enhancing gas output.
Chemical Sector Growth Potential
Nasser also highlighted the chemical sector as a critical area for long-term growth. Aramco is leveraging its established resources in feedstocks and conversion technologies to strengthen its position in this market. The company’s integrated strategy aims to capitalize on its strengths while adapting to changing market conditions.
Leveraging Advanced Technologies
Amin Nasser elaborated on Aramco’s integration of cutting-edge technologies, including artificial intelligence, across its operations. To accomplish this, the company is investing in vital infrastructure, attracting top-tier talent, and implementing a SR26.25 billion ($7 billion) venture capital program.
Aramco remains steadfast in its commitment to reduce carbon and methane emissions during its early production stages. This initiative is part of a broader strategy to maintain its relevance in a rapidly changing energy landscape while providing value to stakeholders and shareholders.
Insights from the Energy Intelligence Forum 2025
The Energy Intelligence Forum, held annually, draws leaders from various sectors—including energy, policy, finance, and business—to discuss pressing global challenges and the future of the industry. This year’s forum in London specifically addressed the ramifications of trade protectionism on the global energy system as well as the complexities surrounding the energy transition worldwide.
In summary, Nasser’s call for a pragmatic approach to energy transition reflects a nuanced understanding of the current global energy landscape, underscoring the need for policies that genuinely support both sustainability and economic growth.
