Fundamental shift in energy consumption by 2025: Saudi Aramco CEO

Amin Nasser, CEO of Saudi Arabian Oil Co. (Saudi Aramco)

Energy consumption in 2025 will change completely, driven by the interplay of supply and demand, Amin Nasser, CEO of Saudi Arabian Oil Co. (Saudi Aramco), said during the International Petroleum Technology Conference (IPTC).

Saudi Aramco is actively delivering on its commitment to energy provision and is poised to enhance both production capacity and daily output, Nasser added.

The company is exploring opportunities to secure additional resources and attract investors across various energy sectors, including hydrogen, oil, and gas, in alignment with its primary goal of sustaining growth in gas, oil, and other energy domains.

The CEO highlighted that advancements are anticipated across all energy sectors, not solely in specific areas like hydrogen or gas, acknowledging notable progress in solar energy.

He underscored the absence of significant integration thus far, noting that Aramco is committed to investing in modern technologies and energy sources.

Nasser stressed Aramco's proactive pursuit of skills, innovation, and future development capabilities. The company intends to maintain its role as an energy production entity while considering the establishment of technology companies and profit-driven institutions.

It aims to explore diverse industries, positioning itself as an integrated enterprise capable of growth in any field, contributing locally and globally to enhance the company's value.

Saudi Arabia is actively engaged in boosting renewable energy, supporting hydrogen, and advancing energy storage – all viewed as comprehensive investments.

The CEO disclosed the completion and approval of a new strategy, set to be announced soon.