Aramco can maintain 12M bpd oil capacity for a year without extra cost: CEO

02:15 PM (Mecca time) Argaam
Amin Nasser,CEO ofSaudi Aramco

Amin Nasser, CEO of Saudi Aramco

Saudi Aramco can sustain maximum crude oil output capacity of 12 million barrels per day (bpd) for a year at no additional cost, Reuters reported, citing Aramco CEO Amin Nasser.

 

Speaking at Intelligence Energy Forum in London, Nasser said oil demand is likely to grow by between 1.1 million and 1.3 million bpd in 2025, and in the range of 1.2 million to 1.4 million bpd in 2026.

 

Aramco's extraction cost is $2 per barrel of oil equivalent (boe) for oil and $1 for per boe for gas, the CEO added.

 

The oil giant wants to expand its chemicals business, Nasser said, adding that despite the current downturn, chemicals remain a key area for long-term growth, thanks to Aramco's strengths in both feedstock and conversion.

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