Saudi Aramco’s president and CEO has said that the hydrocarbons industry will make a resurgence after the global economic crises has abated.
Speaking to oil engineers at a conference in the Saudi Arabian city of Dhahran, Khalid Al Falih said he believed that oil and gas would remain the world’s primary energy source for many years to come, despite many Western nations looking for alternative.
“The energy sector sustains and powers all other economic sectors. Oil will continue to play a vital role as the main source of energy for the foreseeable future and is needed to propel economic development forward,” he said.
“This means that the kingdom, being blessed with the largest oil reserves in the world, will remain at the epicenter of world economic development and will maintain its position as the most reliable energy supplier to the world.”
“This position will be further bolstered and grow in prominence as the world economy inevitably recovers from this recession,” Al Falih added.
