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Saudi Aramco’s Falih Says Won’t Raise Oil Output Until 2015

Saudi Arabian Oil Co., or Saudi Aramco as the state-run company is known, won’t raise crude production capacity until at least after the Manifa field begins pumping, Chief Executive Officer Khalid Al-Falih said. The field is scheduled to begin output in 2015.

New sources of oil elsewhere in the world have lessened the need for Aramco to expand the country’s oil production capacity as rapidly as it had planned previously, Al-Falih said in the capital Riyadh today.

To contact the reporter on this story: Wael Mahdi in Riyadh at wmahdi@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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