Hyperdrive

Saudi Aramco Says Fears of ‘Peak Oil Demand’ Are Overblown

‘We must push back’ on idea that world can do without oil
Transition will be slower, more costly than forecasts: CEO

Amin Nasser
Photographer: Anindito Mukherjee/Bloomberg

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By Tina Davis (BGOV) and Javier Blas

March 6, 2018 at 3:13 PM UTC

Updated on

March 6, 2018 at 5:39 PM UTC

This article is for subscribers only.

Saudi Arabia’s oil company isn’t afraid of electric vehicles.

As it prepares to sell a stake in the company to investors, the CEO reassured a Houston audience that the need for petroleum isn’t going away any time soon.