Aramco invests in emerging energy solutions for the future

Amin H. Nasser, President and CEO of Saudi Aramco. Credit | Aramco
Amin H. Nasser, President and CEO of Saudi Aramco. Credit | Aramco
We will continue investing & leveraging cutting-edge technologies to optimise operations & develop emerging energy solutions, says CEO Amin H. Nasser

Saudi Arabian Oil Company (Aramco) is the world's leading integrated energy and chemicals enterprise, and the largest provider of crude oil to global markets. 


The company has announced in its third quarter 2023 results that, whilst continuing to deliver robust earnings, it will be progressing its growth strategy — including in new energy technologies


The present — and future — for the world’s largest energy company

Key statistics from the report:

• Net income: US$32.6bn (Q3 2022: US$42.4bn)

• Strategic expansion continues with agreement on first international LNG investment, and plan to enter South American

market through a downstream retail acquisition

• Company increases raw gas processing capacity by 800 million standard cubic feet per day (mmscfd), including approximately

750 mmscfd of sales gas processing capacity, through Hawiyah Gas Plant expansion

• Collaboration with Stellantis indicates eFuel compatibility with 24 engine families in Europe


“Our robust financial results reinforce Aramco’s ability to generate consistent value for our shareholders, and we continue to identify new opportunities to evolve our business and meet the needs of customers,” shares Amin H. Nasser, President and CEO of Saudi Aramco. 


Nasser has been with the company for over four decades, where he is also a member of the company's Board of Directors. 


Alongside his work in energy, Nasser is a champion of Saudi youth advancement and development and keenly supports the company's Young Leader's Advisory Board (YLAB), a program designed to link Saudi Aramco leadership with the voice of its young professionals.


“During the third quarter we agreed to make our first international investment in liquefied natural gas (LNG) to capitalise on rising LNG demand, and announced our intention to enter the South American retail market. These planned investments demonstrate the scale of our ambition, the broad scope of our activities, and the disciplined execution of our strategy. I am excited by the progress we are making, which I believe will complement both our Upstream capacity expansion and our growing Downstream presence. 


“We intend to continue investing across the hydrocarbon chain, leveraging cutting-edge technologies to optimise 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.”



For more energy insights check out the latest edition of Energy Digital Magazine and be sure to follow us on LinkedIn & Twitter.

You may also be interested in Sustainability Magazine and EV Magazine


Net Zero LIVE will be hosted live from the QEII Centre, London on the 6th and 7th of March, and streamed globally via our virtual event platform Brella. Net Zero LIVE London will feature four LIVE themes, incorporating Sustainability LIVE, EV LIVE, Scope 3 LIVE, and Energy LIVE to deliver a holistic conference and exhibition experience with opportunities to connect with like-minded peers and actively contribute to crafting a sustainable future. Following Net Zero LIVE, viewers can also sign up for Sustainability LIVE Dubai and Singapore. 

Sign up to the The Global Sustainability & ESG Awards 2024, coming to London on the 11th September 2024. 


BizClik is a global provider of B2B digital media platforms that cover Executive Communities for CEOs, CFOs, CMOs, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare + Food & Drink.

BizClik – based in London, Dubai, and New York – offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.


Featured Articles

CGG, now Viridien, Providing Data-Driven Earth Science

Longstanding French geoscience and technology company CGG has rebranded as Viridien, pivoting to high-growth areas like HPC and AI solutions

Equinix Data Centre Heat Warms Buildings and Swimming Pools

The Equinix Heat Export programme unlocks the value of residual heat generated in its International Business Exchange (IBX) data centres

GE Vernova’s CEO of Offshore Wind Jan Kjærsgård Steps Down

Following three years in the position of Offshore Wind CEO at GE Vernova, Jan Kjærsgård announced he stepped down as of 7 June

Celebrating World Environment Day: ‘Our Land, Our Future’


Scientist Claudia Sheinbaum: Mexico’s First Female President

Renewable Energy

Waste Heat From Google Data Centre Warming up Finnish Homes

Technology & AI