Saudi Aramco CEO sees oil and gas continuing to play major role

Houston

SAUDI Arabia's oil company is not afraid of electric vehicles. As it prepares to sell a stake in the company to investors, the CEO reassured a Houston audience that the need for petroleum is not going away any time soon.

"I am not losing any sleep over 'peak oil demand' or 'stranded resources'," Saudi Aramco chief executive officer Amin Nasser said at the CERAWeek by IHS Markit conference on Tuesday.

"We must push back on the idea that the world can do without proven and reliable sources" of energy, he told the gathering. "Oil and gas will continue to play a m…