Energy industry faces new era of challenges, says Aramco chairman

The energy sector is facing a new era of challenges as of 2020 amid false convictions about shifting from conventional energy mix to new sources in the next few years, said Chairman of Saudi Aramco Yasir Al-Rumayyan at the 2020 International Petroleum Technology Conference (IPTC) held today in Dhahran.

“These convictions will have serious strategic impacts on the security of global energy going forward,” Al-Rumayyan added.

He also said that major changes in the energy industry take a long time to materialize, noting that the conventional energy sector is not currently facing real competition from alternative energy sources.

Elsewhere, Al-Rumayyan underlined the importance of advanced technology for ensuring sustainability of the energy industry “even in hard times”.

He also stressed the high importance of making use of technology to mitigate the environmental impact of oil and gas, and provide energy at affordable prices.

This trend will create major opportunities to energy producers worldwide and help them meet aspirations for a clean and environment-friendly energy mix, Al-Rumayyan concluded.