Yasir Al Rumayyan, Governor of PIF, says Saudi Arabia focuses on long-term planning spanning years and decades, rather than short-term horizons
Saudi Aramco is considering owning global storage facilities larger than its current facilities, said Yasir Al Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of Aramco. 
Speaking during a session at the FII PRIORITY Europe 2026, hosted by the Future Investment Initiative Institute, Al Rumayyan said that Aramco already owns extensive storage facilities worldwide, particularly in Asia, including Japan and South Korea.
He added that without such long-term thinking, the global situation would have been significantly worse than it is today.
Al Rumayyan also noted that the impact of conflicts in the Middle East and the closure of the Strait of Hormuz has extended beyond the energy sector to include petrochemicals, fertilizers, and advanced industries.
He emphasized that Saudi Arabia — through its government and companies such as Saudi Aramco and the Public Investment Fund — focuses on long-term planning spanning years and decades, rather than short-term horizons.
Yasir Al Rumayyan, Governor of PIF, says Saudi Arabia focuses on long-term planning spanning years and decades, rather than short-term horizons
Saudi Aramco is considering owning global storage facilities larger than its current facilities, said Yasir Al Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of Aramco.
Speaking during a session at the FII PRIORITY Europe 2026, hosted by the Future Investment Initiative Institute, Al Rumayyan said that Aramco already owns extensive storage facilities worldwide, particularly in Asia, including Japan and South Korea.
He added that without such long-term thinking, the global situation would have been significantly worse than it is today.
Al Rumayyan also noted that the impact of conflicts in the Middle East and the closure of the Strait of Hormuz has extended beyond the energy sector to include petrochemicals, fertilizers, and advanced industries.
He emphasized that Saudi Arabia — through its government and companies such as Saudi Aramco and the Public Investment Fund — focuses on long-term planning spanning years and decades, rather than short-term horizons.
