Though electric vehicles are gaining popularity worldwide, Saudi Aramco CEO Amin Nasser believes that the new cars will not compose a significant portion of on-road vehicles for decades, according to a new interview with CNBC . “Electric vehicles will continue to grow,” Nasser said. “They will take good market share, but it will be decades before they shoulder a significant percentage of the energy mix.” Still, the rise of fuel-efficient cars could wipeout crude consumption equal to Iran annual output by the year 2025, analysis by Barclays shows. Aramco is currently investing in research and development to devise new ways to use crude oil as international demand falls. “The chemical business grows at about 3 percent, much more than the growth of the transport sector. What can we do to grow that even further by identifying a new usage?” he said. Saudi Aramco has had to refute reports that […]