JEDDAH: Saudi Aramco has participated at the second India Energy Forum, hosted by CERAWeek, from Oct. 14-16.
The annual event fosters national and international dialogue on opportunities, challenges and strategies to bring a new energy future for India.
Saudi Arabia’s Minister of Energy, Industry and Mineral Resources and Saudi Aramco chairman, Khalid A. Al-Falih, took part in the Ministerial Dialogue on Oct. 15.
On the same day, Saudi Aramco Senior Vice President of Downstream Abdulaziz M. Al-Judaimi participated in a panel discussion titled: “Outlook for Refining and Petrochemicals.”
Al-Judaimi noted that relations between the Kingdom and India are growing more strategic. Adding that, being the largest supplier of energy to India, Saudi Aramco has always had a long-term commitment to the country’s energy security.
He said Saudi Aramco is tapping into India’s world-leading growth, by investing in its energy future as part of the company’s own downstream strategy.
He highlighted that the closer cooperation between Saudi Aramco and Indian energy entities was reflected in the partnership with ADNOC and the Ratnagiri Refinery & Petrochemicals Ltd (RRPCL) on the Ratnagiri mega-refinery and petrochemicals complex in Maharashta this year.
He noted that Saudi Aramco's spending on material services sourced from Indian suppliers has reached almost $2 billion in the past six years, and the opening of the Aramco Asia India office in 2017.
He also underscored Saudi Aramco’s role as a catalyst for helping grow India’s oil and gas sector, especially chemicals.
“Investing in India’s value chain from oil supply, marketing and refining to petrochemicals and lubricants is a key part of Saudi Aramco’s global downstream strategy,” said Al-Judaimi.
“Chemicals, especially, can enhance India’s energy sector, adding long-term value to the country’s resources, providing quality products for India’s and Asia’s rapidly expanding middle classes, and positioning India for accelerated economic growth as a manufacturing hub – all of which align with Saudi Aramco’s own intent to expand our global business portfolio and downstream network.”
Meanwhile, Saudi Aramco has participated in the 2nd Supply Chain and Logistics Conference organized by the Ministry of Transport in Riyadh.
Saudi Aramco’s Senior Vice President of Operations & Business Services Mohammad Saggaf has underscored the importance of creating a logistics hub in the Kingdom.
“The role played by the supply and logistics sector has gained increasing importance in both scope and value. The sector now represents about $4.3 trillion of the world’s economy. It impacts other industrial, commercial and service sectors and has adopted many new advanced technologies.”
He also revealed that Saudi Aramco’s partnership with the General Institution for Technical Trianing has led to the etsbalishement of more than 18 training academies as part of the company’s plan to train 300,000 trainees by 2030.