Saudi Arabia is experiencing Energy Addition Saudi Arabia, and Aramco’s CEO Amin Nasser says long-term investment in oil and gas remains essential. He explained that energy policy must match supply realities while supporting growth. Nasser stressed that the world is not undergoing a true energy transition but rather adding new energy sources.
He said oil, gas, and chemicals will remain central to the global energy mix. Current renewable expansions cannot meet rising consumption alone. Energy addition means new sources supplement traditional fuels rather than replacing them. Nasser repeated the phrase energy addition three times to emphasize its importance.
Nasser highlighted that major forecasters predict oil and gas will remain crucial for decades. Global oil demand continues to grow, and natural gas keeps a strong role in energy supply. He called for long-term investments to ensure energy reliability worldwide.
Aramco is growing traditional energy while advancing technology and innovation. Nasser said the company uses digital solutions and artificial intelligence to improve efficiency. These tools also reduce carbon and methane intensities. The company is expanding its chemical business using strengths in feedstocks and conversion.
The CEO described Aramco’s seven billion dollar venture capital program as vital for developing scalable new technologies. He said the company is ready to expand into new energies when they become commercially viable. Energy addition applies to these future investments as well, reinforcing the key phrase.
Nasser criticized the progress of the global energy transition. He said many plans have failed to deliver expected results. Even advanced economies struggle with energy and climate targets due to economic, technological, and social challenges. Policy changes have become necessary in many countries.
The Energy Intelligence Forum brings leaders from politics, finance, and business together to address energy challenges. This year participants focused on protectionism and the complexities of managing the global energy transition. Nasser emphasized that energy planning must remain realistic and forward-looking.
In conclusion, Aramco aims to lead in oil and gas while carefully exploring new energies. Its large resource base, low production costs, and focus on sustainability give it a competitive advantage. Nasser stressed once again that the world is not replacing old energy but adding new sources, highlighting energy addition.
