RIYADH: Saudi energy giant Aramco has announced creating four new senior level positions for upstream and downstream operations in a move to drive the company’s long-term strategy across its value chain and global portfolio.
In a press statement, Aramco said it has introduced new business line executive vice president roles for both its upstream and downstream divisions, following the establishment of president roles in July.
It has appointed Abdul Hameed Al-Dughaither as business line executive vice president of exploration for petroleum engineering and drilling in its upstream business.
It has also appointed Abdulkarim Al-Ghamdi as the second in the upstream segment as the business line executive vice president of gas.
The two other roles under the downstream segments were appointed to Ibrahim Al-Buainain and Yasser Mufti as the business line executive vice presidents of global manufacturing, and products and customers, respectively.
The modifications will take effect on Sep. 1, 2023.
In May, Aramco appointed Nasir Al-Naimi as the president of its upstream business and Mohammed Al-Qahtani as the president of the downstream business.
Both Al-Naimi and Al-Qahtani repot to Amin Nasser, president and CEO of Saudi Aramco.
“I am delighted to announce these appointments, which demonstrate our emphasis on the upstream and downstream components of our business as Aramco continues to transform to meet the world’s energy demand,” said Nasser.
He added: “We expect this decision to help drive operational and financial performance, supporting our upstream capacity growth and our downstream expansion, together with our ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across wholly owned operated assets by 2050.”
Both Al-Naimi and Al-Qahtani have been handling crucial roles in Saudi Aramco for the past few years.
“We continue to identify ways to further optimize and innovate across the Aramco group, and I am confident these newly created roles will help us deliver on our objectives,” Nasser added.
On Monday, Aramco reported a net profit of SR112.81 billion ($30.07 billion) in the second quarter of 2023, the company said in a bourse filling.
Saudi Aramco said in a statement to Tadawul that the profit for the three months ending in June was down 5.67 percent from the prior quarter, when the business recorded a gain of SR119.54 billion.
Source: Arab News
