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8/14, 10:09 AM (Source: TeleTrader)
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Aramco CEO: We expect oil demand to continue to grow

Saudi Arabian Oil Company (Saudi Aramco) President & Chief Executive Officer (CEO) Amin H. Nasser declared on Sunday the company expects oil demand to continue to grow "for the rest of the decade."

"In fact, we expect oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts," the CEO said while commenting on upbeat half-year and quarterly results posted earlier in the morning. He also added that its climate goals remain paramount, as Aramco is working to increase production from multiple energy sources, including oil and gas, renewables, and blue hydrogen.

"We are progressing the largest capital program in our history, and our approach is to invest in the reliable energy and petrochemicals that the world needs while developing lower-carbon solutions that can contribute to the broader energy transition," he added.

Baha Breaking News (BBN) / JG