Saudi Aramco, officially the Saudi Arabian Oil Company, most popularly known just as Aramco, is a Saudi Arabian national petroleum and natural gas company based in Dhahran.
Saudi Aramco, has grown “more hesitant and has pushed back against the idea that demand for their primary products could stop growing.
Furthermore, according to the Wall Street Journal, Saudi Aramco is “trying to protect its market share by slowing a potential exodus to electric vehicles.” How? It’s reported that, “the world’s largest oil company has 30 engineers working away in [a] Detroit suburb on a project that sounds counter intuitive: an engine that burns less oil.”
The company’s goal with its research is to preserve the market for fuel.
Reference- Financail Times, Wall Street Journal