Aramco and Saudi ministry officials have previously advocated for ongoing investment in hydrocarbons to avoid energy shortages until renewables can fully meet global energy demands.
Nasser's comments drew applause from the audience at CERAWeek — an annual energy conference by S&P Global that's known as the "industry's Super Bowl."
Other oil and gas executives at the event echoed Nasser's views, but spoke less directly about the state of the energy transition.
Separately, Exxon Mobil CEO Darren Woods on Monday said that demand for petroleum products is "still very, very healthy."
And the impact that price has on demand," Woods told CNBC's "Squawk on the Street."
Persons:
Amin Nasser, Nasser's, Wael Sawan, Darren Woods, hasn't, Woods, CNBC's
Organizations:
Aramco, Saudi, Shell, Reuters, Exxon Mobil
Locations:
Houston , Texas, Saudi Aramco, Europe