Saudi Aramco announced that it had received a directive from the Ministry of Energy to maintain the maximum sustainable production capacity level at 12 million barrels per day, and not to continue raising the maximum sustainable production capacity to the level of 13 million barrels per day.
The company said in a statement on Tadawul that the level of maximum sustainable production capacity is determined by the state in accordance with the hydrocarbon system issued by Royal Decree No. (M/37) dated 2 Rabi’ al-Thani 1439 AH corresponding to December 20, 2017.
The company indicated that it will work to update the capital spending guidance when the 2023 results are announced in March.
According to Arqaam data, in March 2020, the company had received a directive from the Ministry of Energy to raise the level of maximum sustainable production capacity from 12 to 13 million barrels per day.
