Future of energy in focus as IPTC 2022 concludes

Future of energy in focus as IPTC 2022 concludes

Dhahran – Aramco executives championed the role of the circular carbon economy and digital transformation in the global energy transition, as the International Petroleum Technology Conference (IPTC) 2022 concluded in Riyadh on Wednesday.

Ahmed Al-Khowaiter, Aramco’s Chief Technology Officer, stressed the need for stakeholders to transition from debate to consensus to accelerate global decarbonization efforts. Highlighting the benefits of the circular carbon economy model, he also emphasized the importance of increased transparency across the industry:

“A circular carbon economy is how we transition from today to a low carbon future in a technology-agnostic way that encompasses all players holistically and unleashes the power of the existing energy industry. It is the most economical thing to do, not only the quickest. There is a huge potential to reduce emissions from the global oil and gas industry, not just through renewables but also through good gas management and petroleum engineering practices. We need regulators to recognize good performance and incentivize transparency because it is good for both our industry and society at large.”

Executive Director of Strategy & Market Analysis, Ashraf Al-Ghazzawi, explained the need for a stable, practical and inclusive energy transition rooted in reality and not abstract concepts:

“We all know that as the