Amin Nasser
Amin Nasser,CEO,Saudi Aramco
Saudi Aramco has focused on boosts to business in the past year, including a partnership with stc to launch Dammam 7, a supercomputer among the top ten most powerful globally. The supercomputer is designed to push forth exploration and production using sophisticated imaging and deep-learning algorithms.
The company is also vocal about the energy transition, with upstream head noting that the industry should focus on reducing its carbon footprint.
But one of the biggest announcements about Saudi Aramco was the government’s Shareek drive, which would see Aramco and SABIC make $1.3 trillion in private investments in the country by 2030, partnering with promising companies to help diversify the economy away from oil.
The company signed a deal to form subsidiary Aramco Oil Pipelines Company to lease usage rights for its pipeline network for a 25-year period.
Saudi Aramco’s Q1 2021 net income rose 30% year on year with $21.7 billion in net income on higher oil prices and refining and chemicals margins, but was offset by lower production levels.
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