VIDEO: Aramco Chairman talks about plans for a lower-carbon future
H.E. Yasir O. Al-Rumayyan talks about our preparations for future with lower-carbon fuels and more-efficient engines.
Energy Talks: Practical plans for a lower-carbon future
The 2022 ABANA Achievement Award
H.E. Yasir O. Al-Rumayyan, Chairman of Aramco’s Board of Directors
Our transformation journey does not mean getting out of oil and gas.
All reasonable pathways to global net-zero goals show that hydrocarbons will still be needed, even in 2050.
What it does mean is steadily and responsibly reducing our carbon footprint. We already have one of the lowest crude oil production carbon intensities in the industry.
We are working to reduce it further.
Our planned carbon capture storage facility aims to capture and store CO2
For example, we have begun to work on one of the world’s largest carbon capture and storage facilities, with the potential to capture and store up to 9 million metric tons of CO2 by the year 2027.
Aramco Carbon Emissions High-level Intensity Estimator (ARCHIE)
We are putting the finishing touches on a new digital tool called ARCHIE, which draws on data from 9,000 oil fields and 500 refineries across the world and will bring a new level of transparency to the industry’s carbon footprint.
We are investing for the future, too.
80% potential CO2 reduction from lower-carbon fuels and more-efficient engines
In low-carbon hydrogen, high-efficiency engines, and lower-carbon synthetic fuels, and we have just launched $1.5 billion sustainability fund to back game-changing new energy technologies.
That’s our strategy: energy security today, practical plans for a lower-emissions future tomorrow.