PIF Governor: Aramco is considering owning huge oil stores around the world
Governor Public Investment Fund (PIF) and Chairman of the Board of Directors "Saudi Aramco"Yasser Al-Rumayyan, said that the company is considering owning huge oil storage facilities around the world, after the disruption of energy supplies through the Strait of Hormuz due to the American-Israeli war on Iran.
Al-Rumayyan explained, today, Thursday, in a dialogue session within the work of… "Top priority" Which it organizes "Future Investment Initiative" In the Italian capital, Rome, it was said that had it not been for Saudi Arabia’s prior planning and precautions against crises, the situation would have been much worse, as the East-West pipeline was an essential element for protecting The Saudi economy during the war.
Al-Rumayyan pointed out that Aramco’s storage facilities played an essential role, and we are thinking of increasing storage capabilities now, pointing out the necessity of dealing with the EnergyRealistically, renewable energy will not replace fossil fuels.
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