Saudi State Orders Aramco to Stop Oil Capacity Expansion ...Middle East

The Saudi state has ordered energy major Aramco to stop work on expanding its maximum sustainable capacity to 13 million barrels daily, instead keeping it at 12 million bpd. The company said in a statement today that its maximum sustainable capacity is determined by the state under a law from 2017. Aramco added that it would update its capital spending plans for the year in accordance with the new government directive in March when it announces its 2023 financial results. Saudi Arabia’s state oil company said it was working to boost its production…

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