{"id":2102,"date":"2026-06-24T08:39:40","date_gmt":"2026-06-24T08:39:40","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=2102"},"modified":"2026-06-24T08:39:40","modified_gmt":"2026-06-24T08:39:40","slug":"saudi-aramcos-chairman-calls-for-energy-realism","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=2102","title":{"rendered":"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0"},"content":{"rendered":"
\n

Speaking at the opening session\u00a0of the Future Investment Initiative (FII) Priority Europe summit,\u00a0hosted in Rome last week, Al-Rumayyan\u00a0was\u00a0asked for his key takeaway from the recent conflict for global energy security.\u00a0\u201cEnergy realism, that\u2019s what we need to really focus on,\u201d\u00a0he said.\u00a0<\/p>\n

Read more Saudi PIF\u2019s governor wants the kingdom to become a global investment center<\/a><\/p>\n

The man charged with increasing Saudi\u2019s non-oil exports and non-oil GDP as part of Vision 2030, openly criticized European\u00a0regulation\u00a0and its drive to replace fossil fuels with renewable energy.<\/p>\n

\n
\n
<\/div>\n<\/div>\n<\/div>\n

\u201cUnfortunately, in the last decade we saw a lot of push from new energy,\u201d said Al-Rumayyan, adding \u201cwhich is \u2026\u00a0a great addition, but\u00a0it\u2019s\u00a0not going to be a substitute for fossil fuels.\u00a0The world\u00a0cannot not\u00a0rely on fossil fuel.\u201d<\/p>\n

Last December,\u00a0the\u00a0Gulf Cooperation Council\u00a0expressed \u201cdeep concern\u201d\u00a0at the EU\u2019s proposed sustainability and due diligence legislation.<\/p>\n

Al-Rumayyan\u00a0alluded to this when he mentioned how such legislation could have negatively\u00a0impacted\u00a0\u201cinvestors such as ourselves, Aramco, Sabic, PIF, not only to invest more but also to keep our investments in Europe.\u201d\u00a0<\/p>\n

In February,\u00a0EU member states in the European Council\u00a0voted to approve an agreement\u00a0to significantly scale back sustainability reporting and due diligence requirements for companies which should help attract further investment in the continent\u2019s energy sector.\u00a0<\/p>\n

\n
<\/div>\n<\/div>\n

The PIF invested \u20ac98 billion ($112.12\u00a0billion) across Europe and the UK between 2017 and 2025, while Aramco deployed around \u20ac80 billion\u00a0($91.53 billion)\u00a0with European suppliers,\u00a0including approximately \u20ac20 billion\u00a0($22.88 billion)\u00a0in Italy alone.<\/p>\n

The fund has\u00a0identified\u00a0around 140 potential partnership opportunities with European companies under its new 2030 strategy, including collaborations aimed at supporting Saudi Arabia\u2019s automotive industry and investments in Italian luxury and manufacturing companies.\u00a0<\/p>\n

Read more The Strait of Hormuz is \u2018open\u2019 \u2014 but it\u2019s mined, half-empty, and subject to tolls both sides say they might charge<\/a><\/p>\n

\n
\n
<\/div>\n<\/div>\n<\/div>\n

\u201cThe opportunities that we\u2019re talking about that need joint ventures, the strength of European industries, is worth a total of about \u20ac10.4 billion\u00a0($11.9 billion),\u201d he said. \u201cAnd this is only until the end of 2030.\u201d<\/p>\n

\n
<\/div>\n<\/div>\n

Highlighting\u00a0the fact many industries\u00a0remain\u00a0dependent on oil and gas, including petrochemicals,\u00a0fertilizers,\u00a0and food production,\u00a0Al-Rumayyan\u00a0added that growing demand from AI technologies will further increase global energy needs.<\/p>\n

\n
<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n

He also highlighted the critical role that Riyadh had played in propping up the energy market and global economy during the blockade on the Strait of Hormuz.\u00a0<\/p>\n

During the Iran conflict, the\u00a0kingdom\u00a0has been able to export up to seven million barrels of oil a day through its East-West pipeline to the Red Sea port of Yanbu.\u00a0<\/p>\n

Even so, Aramco is now looking at expanding its international oil storage facilities\u2014it currently has a high number concentrated in Asia,\u00a0Korea\u00a0and Japan.\u00a0<\/p>\n

Al-Rumayyan\u00a0added that while the PIF\u2019s new investment strategy is focused on driving domestic growth, the fund\u00a0remains\u00a0committed\u00a0to investing\u00a0overseas.<\/p>\n

\n
\n
<\/div>\n<\/div>\n<\/div>\n
\n
<\/div>\n<\/div>\n

He explained that foreign investments might become smaller as a percentage share of the total but larger in absolute terms as the fund continues to expand its assets under management.<\/p>\n

Read more Now she\u2019s worth $200 million. But Sarah Jessica Parker says being \u2018one of eight kids that struggled financially\u2019 growing up created her work ethic<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As the world grapples with the greatest oil shock in history, Saudi Aramco’s Chairman calls for “energy realism”<\/p>\n","protected":false},"author":1,"featured_media":2101,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[138],"tags":[],"class_list":["post-2102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment"],"yoast_head":"\nSaudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0 - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=2102\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0 - Cross Country Moving Team\" \/>\n<meta property=\"og:description\" content=\"As the world grapples with the greatest oil shock in history, Saudi Aramco's Chairman calls for "energy realism"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/crosscountrymovingteams.com\/?p=2102\" \/>\n<meta property=\"og:site_name\" content=\"Cross Country Moving Team\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-24T08:39:40+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\"},\"headline\":\"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0\",\"datePublished\":\"2026-06-24T08:39:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102\"},\"wordCount\":544,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/7960adfc80fc93aea28521e6b9702722.webp\",\"articleSection\":[\"Investment\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102\",\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102\",\"name\":\"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0 - Cross Country Moving Team\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/7960adfc80fc93aea28521e6b9702722.webp\",\"datePublished\":\"2026-06-24T08:39:40+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102#primaryimage\",\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/7960adfc80fc93aea28521e6b9702722.webp\",\"contentUrl\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/7960adfc80fc93aea28521e6b9702722.webp\",\"width\":1200,\"height\":600},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2102#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#website\",\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/\",\"name\":\"Cross Country Moving Team\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/crosscountrymovingteams.com\"],\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0 - Cross Country Moving Team","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/crosscountrymovingteams.com\/?p=2102","og_locale":"en_US","og_type":"article","og_title":"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0 - Cross Country Moving Team","og_description":"As the world grapples with the greatest oil shock in history, Saudi Aramco's Chairman calls for \"energy realism\"","og_url":"https:\/\/crosscountrymovingteams.com\/?p=2102","og_site_name":"Cross Country Moving Team","article_published_time":"2026-06-24T08:39:40+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/crosscountrymovingteams.com\/?p=2102#article","isPartOf":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=2102"},"author":{"name":"admin","@id":"https:\/\/crosscountrymovingteams.com\/#\/schema\/person\/1b8121bfb9a1c55d1fff3fca675fceaa"},"headline":"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0","datePublished":"2026-06-24T08:39:40+00:00","mainEntityOfPage":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=2102"},"wordCount":544,"commentCount":0,"image":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=2102#primaryimage"},"thumbnailUrl":"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/06\/7960adfc80fc93aea28521e6b9702722.webp","articleSection":["Investment"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/crosscountrymovingteams.com\/?p=2102#respond"]}]},{"@type":"WebPage","@id":"https:\/\/crosscountrymovingteams.com\/?p=2102","url":"https:\/\/crosscountrymovingteams.com\/?p=2102","name":"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0 - Cross Country Moving Team","isPartOf":{"@id":"https:\/\/crosscountrymovingteams.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=2102#primaryimage"},"image":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=2102#primaryimage"},"thumbnailUrl":"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/06\/7960adfc80fc93aea28521e6b9702722.webp","datePublished":"2026-06-24T08:39:40+00:00","author":{"@id":"https:\/\/crosscountrymovingteams.com\/#\/schema\/person\/1b8121bfb9a1c55d1fff3fca675fceaa"},"breadcrumb":{"@id":"https:\/\/crosscountrymovingteams.com\/?p=2102#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/crosscountrymovingteams.com\/?p=2102"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/crosscountrymovingteams.com\/?p=2102#primaryimage","url":"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/06\/7960adfc80fc93aea28521e6b9702722.webp","contentUrl":"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/06\/7960adfc80fc93aea28521e6b9702722.webp","width":1200,"height":600},{"@type":"BreadcrumbList","@id":"https:\/\/crosscountrymovingteams.com\/?p=2102#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/crosscountrymovingteams.com\/"},{"@type":"ListItem","position":2,"name":"Saudi Aramco\u2019s\u00a0chairman\u00a0calls for \u201cenergy realism\u201d\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/crosscountrymovingteams.com\/#website","url":"https:\/\/crosscountrymovingteams.com\/","name":"Cross Country Moving Team","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/crosscountrymovingteams.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/crosscountrymovingteams.com\/#\/schema\/person\/1b8121bfb9a1c55d1fff3fca675fceaa","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/crosscountrymovingteams.com"],"url":"https:\/\/crosscountrymovingteams.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/posts\/2102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2102"}],"version-history":[{"count":0,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/posts\/2102\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=\/wp\/v2\/media\/2101"}],"wp:attachment":[{"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crosscountrymovingteams.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}