Riyadh – Mubasher: Saudi Aramco President and CEO Amin Nasser said it could take around two years to rebuild global oil inventories amid tightening crude supplies and continued volatility in energy markets, according to Saudi Gazette.
Aramco is examining alternative crude oil export routes and expanding its overseas storage capacity to improve supply flexibility and mitigate the impact of potential market disruptions, Nasser highlighted on the sidelines of the World Petroleum Congress (WPC Energy) in Riyadh.
He indicated that the sharp increase in refined fuel prices has intensified pressure on energy markets, highlighting the need for international cooperation to protect energy infrastructure and transport routes, secure supplies, and maintain global market stability.
Nasser warned that attacks on regional energy infrastructure have consequences extending far beyond the Middle East, affecting economies and markets worldwide. The CEO noted that disruptions in the Strait of Hormuz, alongside attacks on energy facilities, have highlighted the interconnected nature of global supply chains.
As for the group’s expansion plans, Nasser said the oil giant aims to increase gas sales and raise its gas production capacity by around 80% by 2030 compared with 2021 levels.
In the first half (H1) of 2026, the group’s net profits climbed by 33.27% to SAR 241.64 billion, while total revenue for the half-year period reached SAR 883.87 billion.
