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Aramco Receives Directive to Maintain Maximum Daily Production at 12 mln bpd

(FILES) This picture shows Aramco tower at the King Abdullah Financial District (KAFD) in Riyadh on April 16, 2023. (Photo by Fayez Nureldine / AFP)
(FILES) This picture shows Aramco tower at the King Abdullah Financial District (KAFD) in Riyadh on April 16, 2023. (Photo by Fayez Nureldine / AFP)
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Aramco Receives Directive to Maintain Maximum Daily Production at 12 mln bpd

(FILES) This picture shows Aramco tower at the King Abdullah Financial District (KAFD) in Riyadh on April 16, 2023. (Photo by Fayez Nureldine / AFP)
(FILES) This picture shows Aramco tower at the King Abdullah Financial District (KAFD) in Riyadh on April 16, 2023. (Photo by Fayez Nureldine / AFP)

Saudi Aramco said Tuesday it will not try to increase its maximum daily oil production to 13 million barrels a day after receiving a directive from the Kingdom’s Energy Ministry.

Aramco said in a statement it would maintain its Maximum Sustainable Capacity (MSC) at 12 million barrels a 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,” added the statement.

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Greece's 2024 Central Government Surplus Exceeds Target

A view of the port of the tiny Greek island of Kastellorizo, officially Megisti, the most southeastern inhabited Greek island in the Dodecanese. (AFP)
A view of the port of the tiny Greek island of Kastellorizo, officially Megisti, the most southeastern inhabited Greek island in the Dodecanese. (AFP)
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Greece's 2024 Central Government Surplus Exceeds Target

A view of the port of the tiny Greek island of Kastellorizo, officially Megisti, the most southeastern inhabited Greek island in the Dodecanese. (AFP)
A view of the port of the tiny Greek island of Kastellorizo, officially Megisti, the most southeastern inhabited Greek island in the Dodecanese. (AFP)

Greece's central government primary surplus reached 3.5% of its Gross Domestic Product (GDP) last year, well above the government's target, the outgoing finance minister said on Saturday.
The latest government estimate was for a primary surplus, which excludes debt-servicing costs, of 2.5% of GDP, Reuters reported.
Greece, which almost went bankrupt in the last decade, needs to achieve primary surpluses in coming years to keep its huge debt viable.
"In a month from now, when the final figures come out, you will see a primary surplus of about 3.5% of GDP, but also a fiscal surplus of 0.2%," said Kostis Haztzidakis, welcoming the new finance minister, Kyriakos Pierrakakis.
On Friday, Prime Minister Kyriakos Mitsotakis named new finance and transport ministers in a reshuffle designed to shore up support for his government after mass protests over a 2023 train crash.