Live Breaking News & Updates on Aramco Downstream|Page 16
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Whatever the media has been carrying about Saudi Aramco pausing their expansion, etc., is something that you should expect when they implement a programme of $50 billion capex year on year, for three-four years in a row. ....
If the first quarter voluntary cuts are unwound, OPEC+ would begin to return 2.2 million barrels per day to the market from the beginning of April ....
RIYADH: Saudi Arabia has ordered energy giant Aramco to maintain its oil production capacity at 12 million barrels per day, abandoning a planned increase, the firm said on Tuesday. ....
Saudi Arabia s economy experienced a 3.7% contraction in Q4 2023, primarily driven by a 16.4% decrease in oil activities, as reported by the General Authority for Statistics. The decline reflects the nation s ongoing efforts to diversify its economy away from fossil fuels under the Vision 2030 reform agenda. Non-oil and government activities, however, witnessed growth. With a shift towards tourism, business, and sports, Saudi Arabia faces economic challenges amid fluctuations in oil prices and production levels. ....