Saudi Arabia Plans to Expand Oil Business as Global Demand Rises

Saudi Arabian Oil Co., the world’s biggest oil exporter, said it will keep expanding and meet demand from customers as global consumption increases, the head of the state-run producer said.

Saudi Arabian Oil Co., also known as Saudi Aramco, will boost capacity at the Shaybah oil field in the Rub Al-Khali desert in southeastern Saudi Arabia by 33 percent to 1 million barrels a day in the next couple of weeks and will double natural gas production over the next decade, Chief Executive Officer Amin Nasser told reporters Tuesday. Aramco is looking for joint ventures in countries from the U.S. to China, he said.