Saudi energy giant Aramco is steadily moving toward a more diversified and sustainable future. After announcing its financial results for the second quarter, it unveiled ambitious plans to expand in the liquefied natural gas (LNG) sector, coinciding with its expectations of increased global demand for oil and fuel.

Aramco has entered into a partnership with the American company “Sempra” to invest in the “Port Arthur” project in Texas, enhancing its presence in the U.S. LNG market.

The company aims to capitalize on growth opportunities in the promising Chinese market, where it is currently exploring several potential investments in this field.

Aramco expects significant growth in global demand for oil and fuel during the second half of the year, especially in markets like China. U.S. refineries are operating at maximum capacity, reflecting strong demand for oil products.

Through these investments, Aramco seeks to diversify its income sources and reduce its reliance on crude oil as the main driver of its economy.

Aramco is anticipating the future of energy and investing in technologies and projects that will contribute to achieving its strategic goals.

Oil field development projects in Saudi Arabia are proceeding according to the scheduled timelines and are expected to increase the Kingdom’s oil production in the coming years.

Saudi gas projects are making significant progress, with the first phase of the Jafurah project set to enter production next year.