Iraq News - Local News - Baghdadpost

Aramco to reach maximum oil production capacity by November, says CEO

Nasser Amin

Aramco is on track to regain its maximum oil production capacity of 12 million barrels per day (bpd) by the end of November, CEO Amin Nasser was quoted as saying on Wednesday.

In remarks during a conference in London, Nasser said “an absence of international resolve to take concrete action may embolden the attackers and indeed put the world’s energy security at greater risk.”

He added that attacks similar to the one on Saudi oil facilities, on September 14, will continue if there is no international response.

Production for October stood at 9.9 million bpd, he said, adding that the attacks resulted in no reduction in revenue for the company because it continued to supply its customers as planned. 

The damage caused by the attacks affected the world’s biggest oil producer’s capacity and caused a hike in oil prices.