With the energy transition gathering momentum, oil and gas producers across the world are attempting to burnish any environmental credentials they can. Middle East NOCs don’t face the same shareholder pressures as western IOCs, but are still seeking to reposition themselves in the emerging landscape. Saudi Aramco is no exception.
Aramco’s strategy is largely two-pronged. Firstly, the firm is emphasizing that the crude oil it produces, exports and refines is among the least carbon-intensive globally (MEES, 13 August). This is likely to become an increasingly important marketing tool in the years to come. Secondly, Aramco is expanding into emerging low-carbon energy sources which are set to play an increasingly large role as economies seek to reduce their carbon footprint. (CONTINUED - 1053 WORDS)