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Saudi Arabian Oil Company (Saudi Aramco) receives directive to maintain MSC at 12 MMBD
| Element List | Explanation |
|---|---|
| Announcement Detail | Further to the announcement made by the Saudi Arabian Oil Company (Saudi Aramco) on 11-03-2020G (corresponding to 16-07-1441H), Saudi Aramco announces that it has received a directive from the Ministry of Energy to maintain its maximum sustainable capacity (MSC) at 12 million barrels per day, and not to continue increasing its MSC to 13 million barrels per day. It is to be noted that MSC is determined by the State pursuant to the Hydrocarbons Law, enacted by Royal Decree M/37, dated 12/20/2017. The Company will update its capital spending guidance when its full-year 2023 results are announced in March. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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