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FINANCIAL NEWS
Saudi Aramco’s oil output hits 9.1m bpd in 2011
28 May 2012
(MENAFN) Saudi Aramco said it reached 9.1 million bpd of crude oil output last year, up from 7.9 million bpd a year earlier, Reuters reported.
Government owned oil producer said total 2011 exports of crude oil hit 2.42 billion barrels, up from 2.02 billion in 2010.
The company also said that natural gas production also rose to 9.9 billion cubic feet per day in 2011 from 9.4 billion in the previous year.
Gas reserves rose to 282.6 trillion standard cubic ft from 279 trillion, the company added. Saudi Arabia holds the world’s fourth largest gas reserves.
Estimated crude oil and condensate reserves in Saudi Arabia were revised down to 259.7 billion barrels in 2011 from 260.1 billion from a year earlier.
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