Saudi Aramco President and CEO, Amin Nasser
Saudi Aramco President and CEO Amin Nasser said that 80% of today’s oil demand growth comes from countries in the Global South, where economies are rapidly expanding. 
Speaking at the ninth edition of the Future Investment Initiative (FII), Nasser noted that global oil demand is rising by 1.1 to 1.3 million barrels per day (bpd) this year and is expected to grow by 1.1 to 1.4 million bpd in 2026.
He said oil and gas will continue to play a very significant role in the global energy mix for decades to come, adding that this outlook is unlikely to change.
Aramco will continue expanding its gas business, noting the oil sector’s strong production and reserve capacity, with plans to raise gas output by 60% by 2030 while scaling up renewables and liquids-to-chemicals operations to meet rising market demand, CEO added.
He noted that investments in hydrocarbons remain ongoing, with technology, artificial intelligence, and digitalization now serving as key differentiators, adding that Aramco’s substantial investments in these areas have generated significant value over the years.
Nasser also said Aramco is accelerating investments in AI and digitalization, leveraging nearly 90 years of data and investing hundreds of millions of riyals in infrastructure that connects all its facilities and assets to these systems.
Saudi Aramco President and CEO, Amin Nasser
Saudi Aramco President and CEO Amin Nasser said that 80% of today’s oil demand growth comes from countries in the Global South, where economies are rapidly expanding.
Speaking at the ninth edition of the Future Investment Initiative (FII), Nasser noted that global oil demand is rising by 1.1 to 1.3 million barrels per day (bpd) this year and is expected to grow by 1.1 to 1.4 million bpd in 2026.
He said oil and gas will continue to play a very significant role in the global energy mix for decades to come, adding that this outlook is unlikely to change.
Aramco will continue expanding its gas business, noting the oil sector’s strong production and reserve capacity, with plans to raise gas output by 60% by 2030 while scaling up renewables and liquids-to-chemicals operations to meet rising market demand, CEO added.
He noted that investments in hydrocarbons remain ongoing, with technology, artificial intelligence, and digitalization now serving as key differentiators, adding that Aramco’s substantial investments in these areas have generated significant value over the years.
Nasser also said Aramco is accelerating investments in AI and digitalization, leveraging nearly 90 years of data and investing hundreds of millions of riyals in infrastructure that connects all its facilities and assets to these systems.
