Aramco President: Vital Role of Oil, Gas to Continue

Amin Nasser, President and Chief Executive Officer of Aramco, arrives to the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
Amin Nasser, President and Chief Executive Officer of Aramco, arrives to the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
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Aramco President: Vital Role of Oil, Gas to Continue

Amin Nasser, President and Chief Executive Officer of Aramco, arrives to the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
Amin Nasser, President and Chief Executive Officer of Aramco, arrives to the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed

Amin Nasser, President and Chief Executive Officer of Aramco, has called on the world not to disregard investment in the oil and gas industry because it will continue to play a vital role throughout the upcoming decades.

During the first session of Future Investment Initiative on Tuesday, Nasser expressed delight that the kingdom has hosted this huge forum, the first of its kind in the region, which embodies ambitions of Saudi Arabia to be the pioneering investment power worldwide in a way that serves economic diversification.

He added that Aramco is proud of its significant role in achieving the objectives of Saudi Vision 2030, which encompass supporting economic diversification and the private sector and seeking to become the pioneering global company for energy and petrochemicals.

Aramco techniques focus on facing challenges of climate change and Carbon emissions by developing super clean fuel, he continued, not to mention the company’s efforts to enhance energy sector efficiency through nationalization and expansion in the renewable energy field.

“As the world – and Aramco – focus on technique, innovation and challenges of the future, thinking must be rational and the world must not neglect investment in oil and gas industry because it will continue to play a vital role during the upcoming decades," Nasser stated. 



SAMA: Saudi Arabia Unites Regional Efforts to Combat Money Laundering

A group photo during the MENAFATF conference in Riyadh (X)
A group photo during the MENAFATF conference in Riyadh (X)
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SAMA: Saudi Arabia Unites Regional Efforts to Combat Money Laundering

A group photo during the MENAFATF conference in Riyadh (X)
A group photo during the MENAFATF conference in Riyadh (X)

Governor of the Saudi Central Bank Ayman Al-Sayari reaffirmed the Kingdom’s commitment to unifying regional efforts to combat money laundering, terrorist financing, and the proliferation of weapons, as well as addressing challenges faced by all nations in these areas.

Al-Sayari was speaking on Tuesday during the opening of the conference “Latest Developments in Combating Money Laundering, Terrorist Financing, and Weapons Proliferation,” held on the sidelines of the 39th General Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF).

He highlighted the 20th anniversary of MENAFATF’s establishment, praising its role in raising awareness and deepening understanding of international requirements across the region, which he said has helped relevant agencies in member states strengthen their compliance with global standards.

Al-Sayari commended the efforts of Saudi authorities, particularly through specialized permanent committees, to enhance the effectiveness of anti-money laundering measures and improve the Kingdom’s adherence to international obligations.

He emphasized that as money laundering, terrorist financing, and weapons proliferation crimes continue to evolve rapidly, with increasingly complex methods, countries are striving to update their legislative and regulatory frameworks to keep pace with these changes.

Al-Sayari also underscored Saudi Arabia’s support for the goals of the Financial Action Task Force (FATF) under Mexico’s presidency, aimed at combating financial flows that fuel money laundering and terrorism. These efforts, he stressed, contribute to the integrity, stability, and sustainable growth of the global economy.

Saudi Arabia actively participates in FATF discussions to ensure that cross-border transactions are more efficient, transparent, and inclusive, while maintaining compliance with due diligence requirements and other necessary safeguards.

Separately, Al-Sayari held discussions with FATF President Elisa de Anda Madrazo on key updates and mutual areas of interest in combating money laundering, terrorist financing, and weapons proliferation.