Saudi Aramco, the world’s biggest exporter of oil, has set a goal of reaching net-zero emissions from its wholly-owned operations by 2050. Amin Nasser, CEO of Saudi Aramco announced at the Saudi Green Initiative conference in Riyadh.
This target refers to the company only and doesn’t include the emissions that are coming from customers burning its crude oil.
The Saudi Aramco target a set a decade sooner than the official Kingdom of Saudi Arabia timetable for reaching zero-emission, a goal that was announced by the government earlier on Saturday.
What Saudi Aramco made clear, it will keep investing in building crude production capacity.
“We are not abandoning our existing resources of energy,” Nasser said, adding that hydrocarbons will be part of the mix for decades to come. “It’s not contradictory at all”.