"There is no doubt that the last barrel of oil on the planet will be produced here in Saudi Arabia by Saudi Aramco," Riyadh's Energy Minister Khalid al-Falih told journalists during the Future Investment Initiative forum that is taking place in Riyadh, Saudi Arabia, from October 24 to 26.
The state-owned company controls about 25% of the world's traditional fuel reserves, being the most reliable producer of oil, al-Falih stated.
"Saudi Aramco is committed to supporting Vision 2030's key aims of a diversified economy, anchored by a thriving private sector. Our strategic intent to become the world's leading energy and chemical company," Nasser stated.
The company was founded in 1933 and is based in Dhahran. The corporation controls almost all oil-producing capacities of the country.