Saudi Aramco CEO calls energy transition strategy a failure

Saudi Aramco CEO calls energy transition strategy a failure retrieved 28 March 2024 from https://phys.org/news/2024-03-saudi-aramco-ceo-energy-transition.html

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Saudi Aramco CEO Urges Abandoning the Idea of Phasing Out Oil and GasSaudi Aramco CEO Amin Nasser called for a reset of the energy transition strategy, stating that the idea of phasing out oil and gas should be abandoned. Nasser argued that demand for fossil fuels is expected to continue growing in the coming years and policymakers should focus on reducing emissions instead. He made these remarks during a panel interview at the CERAWeek by S&P Global energy conference in Houston, Texas.
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Aramco CEO Blasts Energy Transition “Fantasy” At CERAWeek 2024CERAWeek 2024 featured an address by Aramco CEO Amin Nasser in which he called a transition away from fossil fuels 'a fantasy.':
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Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 recordSaudi oil giant Aramco has reported a $121 billion profit last year, down from its 2022 record due to lower energy prices. Aramco made the announcement in a filing in Riyadh’s Tadawul stock market. It had reported a $161 billion profit in 2022, likely the largest ever reported by a publicly traded company.
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