Aramco CEO Amin Nasser: Investors Tuning Out of Oil Industry - Bloomberg:
The oil industry faces a "crisis of perception" and there’s a growing risk the financial community will turn against fossil fuels, the chief executive officer of Saudi Aramco said as the world’s largest oil producer prepares for its first foray into capital markets.
"There is a worrying and growing belief among policy makers and regulators, investment houses, NGOs, and many others that we are an industry with little or no future," Amin Nasser said in a speech in London on Tuesday, arguing fossil fuels still had a vital role to play in delivering global economic growth.
Other oil industry leaders have expressed similar concerns, but it’s particularly important for Saudi Aramco because it plans to raise tens of billions of dollars from global capital markets in the next three years: tapping the international bond market for the first time this year before moving on to an initial public offering in 2020 or 2021.
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