CEO focuses on Kingdom’s growth, importance of balanced investment in his speech at Saudi Capital Market Forum
Amin Nasser speaks about financial markets’ key role in supporting the energy transition and the need for them to invest in oil and gas to maintain energy security.
Amin Nasser, Aramco president and CEO, gave a keynote speech Sunday at the second edition of the Saudi Capital Market Forum in Riyadh. The forum was held under the auspices of His Excellency the Chairman of the Board of the Capital Market Authority, Muhammed A. Al-Quwaiz.
In his speech, Nasser highlighted that capital market development is high on the agenda under the Kingdom’s vision. Nasser applauded the Saudi Capital Market growth, saying, “This is now one of the fastest growing capital markets in the world, benefiting from an economy that is the fastest growing among the G20. And the Saudi Stock Exchange now ranks among the top globally by market cap, with Aramco’s listing being one contributing factor.”
In his speech, Nasser also emphasized the role of financial markets in driving the global economy, supporting the energy transition and achieving net zero targets. However, he warned that the level of investment in oil and gas is currently nearly half of what it was around 10 years ago. According to Nasser, this will negatively affect global energy security.
From my perspective, for a less risky global energy transition, everyone — including capital markets around the world — must take a more realistic and balanced view of how the global energy transition will unfold.
— Amin Nasser
Nasser also highlighted investment opportunities the energy transition provides for financial markets, referencing carbon capture and storage, as well as hydrogen, as areas that still require substantially more funding as they will have a positive impact on energy sustainability.
Aramco is a sponsor of the Saudi Capital Market Forum, which is attended by investors, exporters, and financial market institutions. The forum will conclude with the Saudi Financial Market Awards Ceremony, with categories to honor the best brokers, asset managers, and public offerings.
Caption for top photo: Amin Nasser speaks to investors, exporters, and financial market institutions during his keynote speech at the Saudi Capital Market Forum on Sunday, Feb. 12.