In the aftermath of the Covid storm, Saudi Aramco is upping its planned investments. And with the energy transition accelerating, Aramco is abandoning plans for LNG exports and instead plans to skip straight to blue hydrogen.
Saudi Aramco’s first year of operations following its partial IPO was an unforgettable one. As oil demand and prices were battered by Covid-19 the firm firstly pushed crude output up to a record 12.1mn b/d during April, before historic Opec+ cuts came into force in May and pushed output down to its lowest level in nearly two decades (MEES, 21 August 2020). (CONTINUED - 1006 WORDS)