London: President and CEO of Aramco Amin Nasser highlighted a range of global challenges related to energy transition policies, given the role of these policies in ensuring that energy remains sustainable, affordable, and reliably available. Nasser made the comments as he delivered an address at the Energy Intelligence Forum 2025 in London today.
According to Saudi Press Agency, during his speech, Aramco’s president affirmed that oil and gas remain the backbone of the global economy, stressing the need to strengthen all types of energy resources to meet the growing global demand. He also spotlighted Aramco’s long-term growth ambitions.
Speaking about the changing narrative around the energy transition, Nasser said that many forecasters and leading analysts are reconsidering their plans and scenarios to make them more realistic, with oil and gas locked in for decades. This is a shift which he hoped will serve as a green light for long-term investments in both sectors.
Aramco’s president noted that many unrealistic promises and scenarios regarding the energy transition have not materialized and have unintentionally led to several undesirable consequences.
While electric vehicles and renewables are growing, they are not even covering demand growth and remain small in absolute numbers, Nasser said. He added that this growth remains relatively small overall, even in advanced economies.
Even in the Global North, the economic realities, technology limits, and public acceptance of the current transition plan are forcing some welcome policy U-turns, he remarked.
On Aramco’s growth strategy, Nasser said the company is determined to remain dominant in oil thanks to a massive resource base, low costs, and one of the lowest upstream carbon intensities across the industry. Meanwhile, he stated that Aramco is accelerating in gas, saying, ‘We have some of the world’s largest reserves, including significant potential in unconventional gas,’ affirming the company’s determination to substantially increase its gas production.
His address also included chemicals, affirming that they remain a key long-term growth area, with Aramco’s proven strengths in both feedstocks and conversion.
Nasser underlined Aramco’s utilization of advanced technologies, including the deployment of artificial intelligence at scale and in an innovative way across the company’s operations, supported by major investments in infrastructure and top talent, as well as a SAR26.25 billion ($7 billion) venture capital program.
He affirmed Aramco’s commitment to enhancing efficiency and reducing carbon and methane emissions in early production stages. The company continues to strengthen its presence in the new energy sector and stands ready to expand when these sources become commercially competitive.
This balanced strategy, Nasser said, is preparing Aramco for a realistic future and delivering long-term value to its stakeholders and shareholders worldwide.
The Energy Intelligence Forum is a leading annual event that brings together top experts from the fields of energy, policy, finance, and business to find solutions to industry challenges, exchange ideas, build partnerships, and help shape the future of the energy sector. This year’s edition focuses on the impact of trade protectionism on the energy system and the complexities of the global energy transition.
