He added on the sidelines of the International Energy Week conference in Singapore, “We see an increasing demand for jet fuel and naphtha, especially for projects to convert crude oil into chemicals.”
Bloomberg News reported Al-Nasser He said it in his speech before a conference International Energy Week In Singapore on Monday, demand for jet fuel is a bright spot for China. He also confirmed Aramco’s goal of increasing its ability to convert oil into chemicals to 4 million barrels per day, with a focus on: China.
He added Chairman of Aramco “China is a great market and we are investing with our partners,” he said, noting that there are a number of new investments expected for the company in China.
Al-Nasser’s statements come at a time when other commentators expected that demand for fuel, such as… benzene Diesel (diesel) in China has already reached its peak or will reach its peak soon, against the backdrop of China’s rapid shift towards electric vehicles.
In recent months, China has witnessed strong growth in demand for commercial vehicles powered by liquefied natural gas, paving the way for the expansion of the use of less polluting fuel as an alternative to the demand for petroleum fuel in the transportation sector.
However, Aramco expects the arrival Global demand for oil To more than 100 million barrels per day until 2050, according to Al-Nasser, pointing to the significant growth in demand in the global south as economies grow and living standards improve. According to Aramco’s expectations, daily consumption is expected to reach 104.5 million barrels per day, which is more than the International Energy Agency’s expectations of 102.8 million barrels per day.