|25 February, 2020

Saudi Aramco CEO says minimal impact on company after demand drop

"When we do our plans we take into consideration over supply or shortage of supply, this is part of our flexibility, we have been through many cycles so many times," Nasser said

Amin H. Nasser, President and CEO of Aramco, attends the official ceremony marking the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019.

Amin H. Nasser, President and CEO of Aramco, attends the official ceremony marking the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019.

REUTERS/Ahmed Yosri

Riyadh- Saudi Aramco had to deal with minimal impact after global oil demand dropped due to new coronavirus spread, CEO Amin Nasser said on Tuesday.

"When we do our plans we take into consideration over supply or shortage of supply, this is part of our flexibility, we have been through many cycles so many times," Nasser said during a panel discussion at an industry conference in Riyadh.

(Reporting by Rania ElGamal and Marwa Rashad; writing by Dahlia Nehme; editing by Jason Neely) ((dahlia.nehme@thomsonreuters.com;))

More From Business