Mr. Al Gudaimi spoke optimistically about the energy future, and realistically about the industry’s responsibilities—which he feels must be shared by all, and not driven solely by commercial objectives.
Over the last 20 years, he said the refining industry has invested about $180 billion to meet new regulations, for example reducing diesel from 500 ppm to 10 ppm, and will spend another $74 billion to continue that work over the next five years. He sees that as a testament to the industry’s commitment to addressing climate change.
Mr. Al Gudaimi also stressed the importance of finding practical solutions for the 700 million people worldwide still living below the international poverty line. He reminded us of the need for gas and liquefied petroleum products in these societies, and said we must continue working toward energy solutions that are accessible and affordable by everyone.
He emphasized that the climate is everyone’s business, and must be an integral part of industry priorities, citing the need for better public engagement to let them know about the work being done, and the gains being made.
Energy-forward examples from Saudi Aramco • Mobile carbon capture (MCC) technology successfully demonstrated on large pickups and midsize cars
• Exhaust-treatment system for heavy-duty transport trucks that can reduce emissions by about 50% vs. the baseline vehicle
• Gasoline compression ignition (GCI) engine that improves fuel economy by up to 30% over spark-ignited gasoline engines, with CO2 per km 17% below the 2021 European target for new vehicles
• Plant capacity to capture 45 million standard cubic feet of CO2 per day that, since 2015, has helped double the company’s oil production rates and win two international environmental awards
• Planted over 2.2 million mangrove plants (saving over 4 million tons of carbon dioxide) with the intention to add over 1 million desert trees and 4 million mangroves
Abdulaziz M. Al-Gudaimi has been appointed as senior vice president of Downstream, effective May 1 2017, having previously served as acting Business Line Head for the business line. He had previously served as the vice president, Power Systems,…