Underinvestment in oil and natural gas supply could threaten global energy security and decarbonization efforts over the coming years, according to the CEO of Saudi Arabia’s state-owned oil behemoth. 

Saudi Arabian Oil Co. (Aramco) CEO Amin Nasser hosted a conference call to discuss the national oil company’s (NOC) record-breaking first-half results.

“Oil demand is likely to grow for the rest of the decade,” Nasser told analysts. “We believe that the world will continue to need oil and gas for the foreseeable future to support a sustainable and affordable energy transition. 

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