Aramco CEO: Ignoring investing in hydrocarbon energy will increase demand on coal

Engineer Amin Nasser, CEO of Saudi Aramco, stressed that not investing in hydrocarbon energy will end with an increase in demand for coal.

During the session “Energy Transition for Companies,” within the activities of the special meeting of the World Economic Forum, he stressed the need for fair energy transition programs that do not exclude developing countries, adding that solar and wind energy provide 4% of global energy sources.

The President of Aramco indicated that 80% of the demand for hydrocarbon energy will come from poorer countries by 2050.

It is also expected that gas will increase by 104 million and coal by about 80 billion barrels during the current year 2024.