Saudi Aramco sees the energy transition in a "more pragmatic light", according to CEO Amin Nasser, despite noting that it "adds to the complexity of our business."
Speaking to a crowd gathered at the International Petroleum Technology Conference (IPTC) in Dammam, KSA, Nasser emphasised the Aramco's resilience.
"Despite the enormous complexity of our industry and the oil market, we always deliver," he said. "Time after time, we have faced extraordinary challenges, and time after time we have found extraordinary solutions, despite ever-present volatility and change."
With the global shift towards greater environmental concern, with increasing pressure on oila nd gas companies to reduce their carbon footprint, Nasser believes there is a long road ahead.
"When it comes to transitioning the greenhouse gas footprint of oil and gas companies themselves, I believe we are not yet halfway," he said. "There is a lot more low-hanging fruit."