Arab Canada News
News
Published: January 30, 2024
The Saudi oil giant Aramco said it received an order from the Saudi government not to increase its production capacity to 13 million barrels per day and to keep the production capacity at 12 million barrels per day.
BBC News reported that the state-owned company announced last November that it is on track to reach a production capacity of 13 million barrels per day by 2027, amid the continued growth in demand for oil in both China and India, noting that it is spending billions of dollars on this project.
The company stated in a statement that it intends to update its capital expenditure forecasts when it announces its annual results next March.
Friday, 04 July 2025
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