Saudi Aramco has been establishing an international gas business in a way that diminishes its carbon footprint by converting more crude oil into chemicals, Amin Nasser, Aramco’s CEO said, Reuters reported.
The company’s expansion strategy requires investments of around $150 billion to increase its output.
Saudi Aramco represents “an energy bridge” between the Kingdom and China in satisfying the latter’s energy needs.
“We need to help our stakeholders – including here in China and the wider Asia region – realize that oil and gas will remain vital to world energy for decades to come,” Nasser said.
The carbon footprint of the Saudi oil is among the lowest in the world and has the lowest greenhouse gas intensity of any supplier of crude oil to China, Nasser added.