Nasir K. Al-Naimi and Mohammed Y. Al Qahtani, who will both report to Aramco's Executive Vice Presidents and the Company's President and CEO, have been named as the company's new presidents of its Upstream and Downstream businesses, respectively. In a recent development, the Board of Directors has given its seal of approval to a series of new positions and appointments. These changes, set to take effect on July 1, 2023, will see the replacement of the existing Upstream and Downstream Executive Vice President roles. In a move aimed at bolstering its long-term strategy and enhancing its global portfolio and value chain, the company has announced a series of key appointments.
In a recent statement, Amin H. Nasser, the President and CEO of Aramco, expressed his delight in announcing a series of appointments that highlight the company's focus on both the upstream and downstream sectors of its business. This move comes as Aramco strives to adapt and cater to the ever-growing global energy demand. In a statement released today, the company expressed its anticipation that this decision will have a positive impact on both operational and financial performance. The move is expected to bolster the company's upstream capacity growth and facilitate its downstream expansion. Furthermore, it aligns with the company's ambitious goal of achieving net-zero Scope 1 and Scope 2 greenhouse gas emissions across wholly owned and operated assets by the year 2050. In an ongoing effort to enhance efficiency and foster innovation within the Aramco group, the company is actively exploring various avenues for optimization. With the introduction of these newly established positions, there is a strong belief that they will play a pivotal role in driving the organization towards achieving its goals.
In a recent development, it has been reported that Mr. Al-Naimi has assumed the esteemed role of Upstream Executive Vice President, effective April 1, 2021. Meanwhile, Mr. Al Qahtani has been diligently serving as Aramco's downstream executive vice president since September 13, 2020. The biographies of the individuals in question can be found on the official Aramco website, accessible through this link.
