Riyadh, Saudi Arabia — Aramco CEO energy security took centre-stage at the Asia Energy Conference in Kuala Lumpur on Monday Today. Amin Nasser emphasised that oil and gas remain vital during times of conflict. He noted that history confirms their strategic importance. This point was made clear this week amid rising oil prices following an Israeli strike on Iran.
Global Energy Security and Geopolitical Impact on Oil
Nasser said that energy security continues to worry the world. Moreover, he stressed that new energy sources support rather than replace fossil fuels. These remarks underline the geopolitical impact on oil and global energy security. This is especially relevant as oil prices surged after the Israel–Iran escalation.
Energy Transition Challenges: Net-Zero vs Affordability
He warned the energy transition could cost up to $200 trillion. He also added that renewables still lag behind demand. Consequently, affordability and security now share the spotlight with sustainability in transition strategies.
The Saudi Standard’s View: Aramco CEO Energy Security Highlight Reinforces Pragmatism in Transition Policy
We at The Saudi Standard interpret Amin Nasser’s remarks at the Asia Energy Conference not merely as commentary, but as a strategic reframing of the global energy narrative. By emphasizing energy security, affordability, and sustainability as co-equal imperatives, Nasser reaffirmed a core tenet of Saudi energy strategy. It promotes pragmatic transition over ideological disruption.
In periods of geopolitical volatility, such as the ongoing Israel–Iran tensions, fossil fuels once again demonstrate their systemic importance. Nasser’s statement— that oil and gas are indispensable during crises — is not a defense of the status quo. Rather, it is a caution against overreliance on emerging technologies not yet ready to shoulder global demand. His remarks act as a counterweight to energy policy circles increasingly dominated by short-term decarbonization targets.
Moreover, highlighting the estimated $200 trillion cost of a net-zero transition serves as a signal to financial markets and policy architects. It underscores the capital intensity of full-scale transformation and raises valid concerns about the feasibility of simultaneous global deployment, particularly in developing economies.
Crucially, Nasser’s comments align with a broader Saudi posture that sees the future not in binary terms—fossil fuels vs. renewables—but as a layered energy system. In this vision, hydrocarbons will continue to play a stabilizing role. This will occur even as investment in green technologies accelerates.
Aramco’s positioning, therefore, isn’t resistance to change—it’s an appeal for balance. For energy-importing nations, the message is clear: secure, affordable energy cannot be compromised for aspirational policy timelines. For the Kingdom, it reinforces its strategy to lead in both conventional and low-carbon domains, ensuring long-term relevance in a fragmented global energy landscape.
