Webinar aims to promote sustainability and expand partnerships with U.S. suppliers
“Doing Business with Aramco: Sustainability and Circular Carbon Economy” highlights Aramco’s growth strategy related to nonmetallics, carbon fiber manufacturing, and other innovative solutions.
A recent webinar by Aramco Americas’ Supply Chain Management Department, in coordination with the U.S. Chamber of Commerce, looks to expand business connections in line with the company’s sustainability priorities.
“Doing Business with Aramco: Sustainability and Circular Carbon Economy” highlighted our growth strategy related to nonmetallics, carbon fiber manufacturing, and other innovative solutions.
This event allowed us to connect with prospective suppliers who exemplify innovation and are interested in new opportunities in the Kingdom,.
— Nabeel I. AlAfaleg, president and CEO of Aramco Americas
Supporting the Saudi Green Initiative
The webinar closely follows Aramco’s support for the Saudi Green Initiative, an initiative that charts the path forward for Saudi Arabia to combat climate change through private and public collaboration on emissions reduction and environmental protection, as well as developing potential technologies that contribute to the energy transition.
Aramco Americas supports the company’s global initiatives not only through supply chain management but also research and development and venture capital funds dedicated to finding the latest and most innovative approaches to Fourth Industrial Revolution 4.0 (IR 4.0) technologies, renewables, and energy efficiency.
Dan Brouillette, president of Sempra Infrastructure and former U.S. Secretary of Energy and co-chair of the U.S. Chamber of Commerce’s U.S.-Saudi Arabian Business Program, said Aramco is a very dynamic company to do business with.
“The company has a commitment to excellence with a strategic view and sees the opportunities with decarbonization,” said Brouilette.
CCUS, investments, and more
Deep dives into subjects such as carbon capture and storage, venture capital investments in sustainability, nonmetallics, and the societal and economic benefits of a circular carbon economy (reduce, reuse, recycle, and remove) were discussed by science and technical experts.
Aramco leadership and professionals joined the conversations to offer insights into company programs such as the In-Kingdom Total Value Add (iktva) and the Industrial Investment Program (Namaat) that, in September, underwent a major expansion, which included the signing of 22 new Memorandums of Understanding (MOUs) and one joint venture agreement focusing on capacity building in four key sectors: sustainability, technology, industrial and energy services, and advanced materials.
Adel Al-Shahrani, manager of Procurement and Supply Chain Management for Aramco Americas, noted iktva’s global success, adding: “We are driving the execution of more than 100 action plans to develop in-Kingdom ecosystems to support localization and workforce development.”
Husam Sendi, manager of our Industrial Investments Program, updated participants on the progress of Namaat, noting 38 investments with 55 MoUs have been signed to date. He cited the advancement of 3-D printing, cloud and digital services, an integrated waste management program, offshore fabrication, energy storage, and nonmetallic auto parts manufacturing.
Scouring the market to find companies to invest in that deliver strategic value to Aramco, Jim Sledzik, managing director, Saudi Aramco Energy Ventures in the U.S., observed digital, IR 4.0 technologies, and sustainability are hot sectors for investing.
There are many opportunities across several platforms for suppliers and investors to partner with Aramco.
“Now, there are further ways to expand your relationship with us and grow as our industry leads the hunt for solutions to some of the world’s greatest challenges — with climate change a top priority,” said AlAfaleg.
Caption for top photograph
Nabeel I. AlAfaleg offers welcoming remarks with members of the U.S. Chamber of Commerce in a “Doing Business with Aramco: Sustainability and Circular Carbon Economy” webinar. AlAfaleg is joined by members of the Aramco Americas Procurement and Supply Chain Management team.