Aramco to Maintain Capacity at 12 mn Barrels, Revises Capex

By Editor


Saudi Aramco revealed that it has received a directive from the Ministry of Energy instructing the company to maintain its Maximum Sustainable Capacity (MSC) at 12 million barrels per day (MMBD). The directive explicitly states that there should be no further increase in MSC, keeping it capped at 12 MMBD.

It is crucial to highlight that the determination of MSC falls under the jurisdiction of the State, as outlined in the Hydrocarbons Law, enacted by Royal Decree M/37 on December 20, 2017. This regulatory framework empowers the State to govern and set limits on the production capacity of entities operating in the hydrocarbons sector.

Saudi Aramco has assured stakeholders that it will provide an update on its capital spending guidance concurrent with the release of its full-year 2023 financial results, scheduled for announcement in March.

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