Amin Nasser, President and CEO of Saudi Aramco
Saudi Aramco is on track to raise its oil production capacity by 1 million barrels per day (bpd) to 13 million bpd by 2027, President and CEO, Amin Nasser, said at the Energy Intelligence Forum.
The company’s sustainable maximum capacity would increase to 12 million bpd to reach 13 million bpd by 2027.
Aramco Trading aims to reach 8 million bpd in the next five years, compared to current 5.5 million bpd, Nasser said.
Aramco is also working to develop its gas capacity. The natural gas shortage worldwide helped increase demand for oil by 500,000 bpd, as consumers shifted from gas to crude, Nasser noted.
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