Aramco CEO says oil industry facing ‘a crisis of perception’


Aramco CEO says oil industry facing ‘a crisis of perception’

Saudi Aramco’s chief executive said on Tuesday the oil industry is facing “a crisis of perception” and the views of some observers that the end of oil is near with the rise of electric vehicles are illogical and not based on fact.

Amin Nasser, CEO of the national oil company of the world’s top crude-exporting country, told an industry event in London that demand for oil is expected to increase substantially, driven mainly by the transportation sector.

“Important stakeholders believe that the entire world will soon run on anything, but oil. These views are not based on logic and facts, and are formed mostly in response to pressure and hype,” he said in rare, strongly worded remarks. Read More

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