Saudi Aramco Expanding Oil and Gas Projects Even With Low Prices
- Khurais oilfield expansion to be complete in 2018: Aramco CEO
- Saudi Arabia to double its natural gas output over 10 years
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Saudi Arabian Oil Co. is pressing ahead with an expansion of the Khurais oil field despite lower crude prices and plans to double its production of natural gas over the next 10 years, the company’s chief executive officer said.
The world’s biggest oil exporter, known as Saudi Aramco, won’t cancel any oil, gas or refining projects, Amin Nasser told reporters during a conference in Al-Ahsa in eastern Saudi Arabia. Aramco is also studying a possible expansion of the country’s largest oil refinery, Ras Tanura, which has a capacity of 550,000 barrels a day, he said Wednesday.