Aramco directed to maintain maximum output at 12M bpd

30/01/2024 Argaam
Logo ofSaudi Arabian Oil Co. (Saudi Aramco)

Logo of Saudi Arabian Oil Co. (Saudi Aramco)

Saudi Arabian Oil Co. (Saudi Aramco) received a directive from the Ministry of Energy to maintain its maximum sustainable capacity (MSC) at 12 million barrels per day (mbpd), and not to continue increasing to 13 mbpd.

 

In a statement to Tadawul, the company noted that MSC is determined by the state pursuant to the Hydrocarbons Law, enacted by Royal Decree M/37, dated Dec. 20, 2017.

 

Aramco will update its capital spending guidance when its full-year 2023 results are announced in March, the statement added.

 

In March 2020, Saudi Aramco received a directive from the Ministry of Energy to increase its MSC to 13 mbpd from 12 mbpd, according to data available on Argaam.

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