Aramco CEO says capacity is nearly 2 million higher than reported production figure
With the kingdom estimated to be producing about 10.09 million b/d, this capacity would give the worlds 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 Aramcos current capacity speaking at the Saudi Downstream conference in Al-Jubail on 8 March.
Saudi Arabias 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 todays 5.4 million b/d.
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