Aramco to use capex allocated for boosting output for expansions: CEO

12/02/2024 Argaam
Amin Nasser, President and CEO, Saudi Aramco

Amin Nasser, President and CEO, Saudi Aramco

Saudi Arabian Oil Co. (Saudi Aramco) President and CEO Amin Nasser said that the capital expenditures (capex) allocated for increasing production capacity will go to expanding gas, liquids and chemicals.

 

He added that Aramco has adequate spare capacity of about three million barrels per day and is always ready to expand its maximum sustainable capacity if needed, Reuters reported.

 

Nasser also noted that shareholders will decide whether the state-owned oil giant will sell more shares in 2024.

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