Production, storage a focus for Saudi Aramco

7 Jul 2017   Saudi Arabia

In an annual review, the Saudi Arabian Oil Co. said new wells drilling at a field near Riyadh could add another 300,000 barrels of oil per day by 2018. The company known commonly as Saudi Aramco issued an annual review of operations during 2016, saying it was positioned to maintain its role as a global oil and gas supplier. Coming off a year that saw crude oil prices hit historic lows, Chairman and Saudi Oil Minister Khalid al-Falih said 2016 brought a sea change to industry thinking. “I believe that history, and indeed the near future, will prove that despite the discouraging business climate, 2016 was a turning point for both Saudi Aramco and […]

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