Aramco President and CEO Amin H. Nasser emphasized that the world is experiencing an "energy addition," not an energy transition in his remarks at the Energy Intelligence Forum in London on October 13, 2025. He stressed that to meet rising global energy demand, all energy sources must play a growing role.

His argument is that new energy sources like renewables are not replacing traditional ones quickly enough to meet the rising energy consumption driven by global population growth and economic development

“Much of the promised progress has not been delivered, with many unintended consequences. Thankfully, it is finally shifting the narrative in three key ways. First, while EVs and renewables are growing, they are not even covering demand growth and remain small in absolute numbers… In reality, this is not a true energy transition; it’s an energy addition which requires all hands on deck. Second, this reality is why every major forecaster is revising scenarios, with oil and gas locked in for decades, which I hope is the green light for long-term investments in both. Third, even in the Global North, the economic realities, technology limits, and public acceptance of the current transition plan are forcing some welcome policy U-turns,” Naseer said.

On Aramco’s growth strategy, he said: “We are determined to remain dominant in oil thanks to a massive resource base, low costs, and one of the lowest upstream carbon intensities across the industry… We are accelerating in gas, as we have some of the world’s largest reserves, including significant potential in unconventional gas… And despite the current downturn, chemicals remain a key long-term growth area, with our proven strengths in both feedstocks and conversion.”

On Aramco’s deployment of advanced technologies, he added: “We continue to deliver efficiency improvements, and are further reducing our upstream carbon and methane intensities. We are deploying AI at scale, backed by major investments in infrastructure and top talent, as well as a $7 billion venture capital program. Ultimately, our focus is on value as we invest in technology development, AI, and digital solutions… The same approach applies to our careful positioning in new energies, ready to scale up when commercially competitive. This balanced strategy is preparing us for a realistic future, delivering long-term value to our stakeholders and shareholders worldwide.”