Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business, Energy

Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

Aramco head calls for sustained investment in oil sector

Nasser refused to disclose more about any potential investments.
By TRENDS Desk
February 22, 2022 12:28 am
  • Nasser revealed that Aramco continued investing in 2020 even during the COVID-19 pandemic
  • Aramco increased the spare capacity from 12 million barrels per day to 13 million bpd in 2020

Saudi Aramco President and CEO Amin H Nasser urged companies and governments to continue investing in the oil sector to meet future demands.

Addressing the International Petroleum Technology Conference 2022 in Riyadh, Nasser revealed that Aramco continued investing in 2020 when the COVID-19 pandemic was at its peak.

Aramco increased the spare capacity from 12 million barrels per day to 13 million bpd in 2020, which Nasser attributed to the company’s belief in future demand.

According to the CEO, the investments made by Aramco’s investments are not sufficient enough to keep the industry afloat, and more companies and governments should come forward to fund the sector.

Talking about the goal to achieve net-zero, Nasser asserted the need of having a pragmatic and realistic plan which is also affordable.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]