Robust Q3 reinforces Aramco’s ability to generate consistent value for shareholders: Nasser

Amin Nasser, President and CEO of Saudi Aramco

Saudi Aramco’s robust financial results for the third quarter of 2023 reinforce its ability to generate consistent value for its shareholders, Amin Nasser President and CEO of Saudi Aramco said in a statement today, Nov. 7.

The company continues to identify new opportunities to evolve its business and meet the needs of customers, he added.

Aramco’s planned investments demonstrate the scale of its ambition, the broad scope of its activities, and the disciplined execution of its strategy. The company will continue its upstream capacity expansion and its growing downstream presence.

Aramco agreed during the third quarter to make its first international investment in liquefied natural gas (LNG) to capitalize on rising LNG demand, announcing its intention to enter the South American retail market, Nasser added.

“We intend to continue investing across the hydrocarbon chain, leveraging cutting-edge technologies to optimize our operations and advance the development of emerging energy solutions. It is an approach rooted in our belief that a balanced and realistic energy transition plan should consider the needs of all geographies, in order to avoid disparities between global energy consumers,” the CEO concluded.