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Saudi Aramco CEO Says Phasing out of Fossil Fuels Is a ‘Fantasy’ 

Saudi Aramco CEO Amin Nasser speaks at the CERAWeek conference in Houston. (X platform)
Saudi Aramco CEO Amin Nasser speaks at the CERAWeek conference in Houston. (X platform)
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Saudi Aramco CEO Says Phasing out of Fossil Fuels Is a ‘Fantasy’ 

Saudi Aramco CEO Amin Nasser speaks at the CERAWeek conference in Houston. (X platform)
Saudi Aramco CEO Amin Nasser speaks at the CERAWeek conference in Houston. (X platform)

Saudi Aramco CEO Amin Nasser said on Monday global oil demand will not peak for some time, so policy makers need to ensure sufficient investment in oil and gas to meet consumption and abandon the fantasy of phasing out fossil fuels.

In remarks to oil and gas executives at the CERAWeek conference in Houston, he added that despite growing investment, alternative energy has yet to displace hydrocarbons at scale.

"All this strengthens the view that peak oil and gas is unlikely for some time to come, let alone 2030," he said.

Oil demand will reach a new record of 104 million barrels per day (bpd) in 2024, Nasser remarked.

Moreover, he stated that shipping disruption in the Red Sea due to attacks by Yemen's Houthi militias had "made a tight situation tighter" in shipping markets.

He added, however, that the attacks had minimal impact on Saudi oil exports. Aramco remained resilient, aided by its strategic infrastructure, including the East-West pipeline.

He reiterated Aramco’s substantial spare capacity of 3 million bpd, reaffirming the company’s readiness to address any unforeseen disruptions in global oil supply.

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Flynas Launches First Direct Flights Between Riyadh and Damascus After 12-Year Suspension

Representatives from flynas, Riyadh Airports Company, and Syria during the launch ceremony of the Riyadh–Damascus flight route. (flynas)
Representatives from flynas, Riyadh Airports Company, and Syria during the launch ceremony of the Riyadh–Damascus flight route. (flynas)
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Flynas Launches First Direct Flights Between Riyadh and Damascus After 12-Year Suspension

Representatives from flynas, Riyadh Airports Company, and Syria during the launch ceremony of the Riyadh–Damascus flight route. (flynas)
Representatives from flynas, Riyadh Airports Company, and Syria during the launch ceremony of the Riyadh–Damascus flight route. (flynas)

Saudi airline flynas has inaugurated direct flights between Riyadh and Damascus, becoming the first Saudi carrier to reconnect the two capitals after more than 12 years.

The move marks a significant milestone in the airline’s strategic expansion plan, launched under the slogan “Connecting the World to the Kingdom.”

The inaugural flight ceremony took place on Thursday at King Khalid International Airport in Riyadh, attended by Syrian chargé d’affaires in Riyadh Counselor Hussein Abdulaziz, along with representatives from flynas, Riyadh Airports Company, and various media outlets.

Passengers traveling on the first flight to Damascus were welcomed with gifts, and the aircraft was greeted with a traditional water salute upon landing at Damascus International Airport. The reception was attended by the Saudi chargé d’affaires in Syria, along with officials from the Syrian Civil Aviation Authority, Damascus Airport, and flynas.

According to a company statement, the relaunch of flights to Damascus reflects flynas’ commitment to strengthening Saudi-Syrian relations.

The airline had previously operated direct flights from Riyadh and Jeddah to several Syrian cities including Damascus, Aleppo, and Latakia.

The launch supports Saudi Arabia’s National Aviation Strategy, which aims to connect the Kingdom to 250 international destinations, handle 330 million passengers annually, and welcome 150 million tourists by 2030. It also aligns with the goals of the Pilgrim Experience Program, which facilitates easier access to the Two Holy Mosques.

Flynas currently operates 139 routes to over 70 domestic and international destinations across 30 countries, with more than 2,000 flights per week. Since its founding in 2007, the airline has served over 80 million passengers.

Under its expansion strategy, flynas aims to grow its network to 165 destinations, in line with the objectives of Saudi Vision 2030.