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Energy transition behind Saudi crude expansion halt
Saudi Arabia's energy minister Prince Abdulaziz bin Salman said today that the energy transition is the driving force behind the country's recent decision to halt a programme to boost its crude output capacity, noting that Riyadh already has plenty of spare capacity. But he did not rule out revisiting the expansion plan at a later date. State-controlled Saudi Aramco surprised global oil markets when it announced on 30 January that it had received a directive from the energy ministry "not to continue" with its programme to boost its maximum sustainable crude capacity by 1mn b/d to 13mn b/d. "We have postponed this ... (full story)
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- Posted: Feb 12, 2024 6:33am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 268
