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Aramco has no Plan to Raise Capacity to 15 Mln bpd

Source: Reuters 11/21/2011, Location: Middle East

Saudi Aramco has no current plans to increase its oil production capacity to 15 million barrels per day (bpd), its chief executive said.

"Saudi Aramco has more spare capacity than the kingdom is obligated to or has committed to ... so it wouldn't make sense," Khalid al-Falih told journalists in Riyadh on Monday when asked if the state-run energy company was considering expanding its upstream oil capacity from around 12 million bpd.

"If we ever need to bring projects to maintain capacity or to increase capacity our planning horizon is much shorter than other peers in the industry," he said. "In the short to medium term our focus is on gas."

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