Aramco Eyes Capacity Increase, Raises Capex

摘要

Saudi Aramco has begun preliminary work to raise its sustainable oil production capacity to 13 million barrels per day from 12 million b/d as it seeks to accelerate the monetization of its vast reserves to ensure the oil can be sold while there is still demand for it. Aramco CEO Amin Nasser, on an earnings call Monday, said the project to add 1 million b/d to the company’s maximum sustained capacity was presently at a detailed engineering stage and would be brought on stream in increments “over the next few years.” If needed, the plan could be accelerated, Nasser said without providing further details.