Saudi Arabia has 12 million b/d crude output capacity

09 March 2016

Aramco CEO says capacity is nearly 2 million higher than reported production figure

Saudi Arabia has the capacity to produce 12 million barrels a day (b/d) of crude oil, according to the CEO of state-owned oil company Saudi Aramco, Amin Nasser.

With the kingdom estimated to be producing about 10.09 million b/d, this capacity would give the world’s second largest crude producer a spare capacity of almost 2 million b/d.

Riyadh has ramped up production since the oil price began to collapse in the second half of 2014.

According to Opec estimates, Saudi Arabia produced an average of 10.12 million b/d in 2015 compared with 9.68 million b/d in 2014, hitting a peak of over 10.26 million b/d in the third quarter of last year.

Nasser revealed Aramco’s current capacity speaking at the Saudi Downstream conference in Al-Jubail on 8 March.

Saudi Arabia’s gas network now produces 12 billion cubic feet a day (cf/d) with plans to increase this to 23 billion cf/d, Nasser said.

Meanwhile the country is aiming to increase oil refining capacity to over 8 million b/d from today’s 5.4 million b/d.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications