Saudi Aramco launches $1.5b fund to support global energy transition

Saudi Aramco launches $1.5b fund to support global energy transition

The Saudi Aramco logo is pictured at the company's oil facility in Saudi Arabia, REUTERS/Maxim Shemetov

Oil giant Saudi Aramco launched a $1.5 billion fund to support an inclusive global energy transition on Wednesday while Saudi officials said the switch from hydrocarbons could take decades, necessitating continued investment in conventional resources.