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FINANCIAL NEWS
Saudi Aramco to boost gas output
08 Jun 2010
(MENAFN) A senior official at Saudi Arabian Oil Co. (Aramco), the world?s biggest state oil company, said that the firm aims to increase natural gas output to 15.5 billion cubic feet a day by 2014 from the current 11.2 billion cubic feet a day, Reuters reported.
Saudi Arabia is the world?s largest crude exporter, with output of 8.29 million barrels a day in May. The kingdom had proved reserves of 264.1 billion barrels at the end of 2008, according to BP Plc?s Statistical Review of World Energy.
To ensure availability and reliability, Aramco has invested heavily in new developments to increase oil production capacity, the official said at a conference in Beijing.
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