How Saudi Aramco plans to win the oil endgame

of Saudi Aramco could have the cushiest jobs in the energy business. The state-run oil colossus produces 9m barrels of oil a day, more than any other firm and nearly a tenth of the world’s total . It boasts by far the largest remaining proven reserves of the stuff, which would last into second half of the century at current pumping rates.

As less generously endowed rivals fall by the wayside, Aramco’s market share would, in other words, be almost certain to rise with a few modest investments in maintaining reservoirs. Yet the company’s employees are busier than ever. That is because Aramco is the linchpin of the strategy of, Saudi Arabia’s crown prince and de facto ruler, to end his country’s reliance on oil, diversify its economy and decarbonise its energy production.

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