Saudi Aramco’s CEO trumpets investment plans for oil and gas amid falling prices | The National:
"Saudi Arabia will maintain an ambitious rate of investment in its hydrocarbon sector to meet forecast global demand increases over the next decade, despite the weaker oil prices which have hit its economy this year, according to a leading Saudi oil executive.
Yesterday, the head of Saudi Arabia’s state-owned national oil company, Aramco, said it plans to invest US$40 billion a year over the next 10 years to keep its oil production capacity steady and double gas production.
The Aramco chief executive Khalid Al Falih said he expects more of the company’s capital spending to be directed towards offshore projects and expects rising costs across the oil sector to underpin oil prices, according to Reuters."
'via Blog this'
No comments:
Post a Comment