Aramco President & CEO Amin H Nasser has highlighted the risks associated with underinvestment in the oil and gas sector, as he participated in a CEO Plenary Session titled ‘Leading the Global Recovery for a Sustainable Future’ at the International Petroleum Technology Conference (IPTC) in Riyadh. 

 

Hosted by Aramco, this year’s IPTC focuses on ‘Fueling Global Recovery Through Sustainable Energy’. The event, which continues until Wednesday, brings together industry leaders from around the world to discuss important developments in the sector. Senior Aramco executives have discussed key challenges facing the energy industry at the conference. 

 

Nasser said: “You’ve seen what’s happening in Europe right now and parts of Asia, in terms of energy prices going very high, impacting customers around the world. This is mainly because of strategies and policies that curtailed investment in certain sectors, stopped investment in a lot of energy sources, only advocated and supported renewables and alternatives -- without realizing that you need to be supporting all energy sources over the long term to ensure adequate supply to sustain healthy global growth.” 

 

Nasser called for the oil and gas industry to be included in the global climate conversation, collaboration, and actions, as it is a key part of the solution.

 

Aramco Upstream SVP Nasir Al-Naimi discussed technology solutions being explored by the company to tackle emissions, during an Executive Special Session that also took place yesterday, titled ‘Navigating Through Dynamic Markets’.

 

“Technology is very important and we are focusing on things like IR4.0 and digitalization… We are looking at crude-to-chemicals, which is one way of reducing emissions… And carbon capture is now the talk of the town. We are doing our piece and, in the Kingdom, we are trying to build a system that will decarbonize entire industries… We apply the latest technology — the edge of engineering. Everything you can think of is being done,” he said. - TradeArabia News Service