Aramco has appointed Nasir K. Al-Naimi as president of its Upstream business, and Mohammed Y. Al Qahtani as president of its Downstream business, Aramco announced in a press release today.
Both presidents will report along with Aramco’s executive vice presidents to the Company’s President & CEO Amin Nasser. The newly-created positions and appointments, approved by the Board of Directors, will be effective from July 1, 2023 and will replace the previous Upstream and Downstream Executive Vice President positions respectively.
According to the state-owned giant, these appointments will help drive the “company’s long-term strategy across its global portfolio and value chain.”
Amin H. Nasser, Aramco President and CEO, said: “I am delighted to announce these appointments, which demonstrate our emphasis on the upstream and downstream components of our business as Aramco continues to transform to meet the world’s energy demand. We expect this decision to help drive operational and financial performance, supporting our upstream capacity growth and our downstream expansion, together with our ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across wholly-owned operated assets by 2050. We continue to identify ways to further optimize and innovate across the Aramco group, and I am confident these newly created roles will help us deliver on our objectives.”
Al-Naimi has held the position of Upstream Executive Vice President since April 1, 2021, while Al Qahtani has served as Aramco’s Downstream Executive Vice President since September 13, 2020.