Saudi Aramco maintains MSC at 12m bpd in accordance with ministry directive

Saudi Aramco announced on Jan. 30 that it will maintain its maximum sustainable capacity at 12 million barrels per day, following the directive from the Ministry of Energy.

The oil giant has emphasized its commitment to this directive, choosing not to further increase the MSC to 13 million barrels per day, as stated in a press release.

The determination of the MSC aligns with the regulations set forth by the state, as outlined in the Hydrocarbons Law through Royal Decree M/37, dated Dec. 20, 2017, the release added.

Saudi Aramco plans to update its capital spending guidance when revealing its full-year 2023 results in March.

Amin Nasser, CEO of Aramco, mentioned in October 2023 at the Energy Intelligence Forum that the company has the capability to increase oil production capacity “in a couple of weeks” in response to the rising global demand.