Aramco to Boost Capacity to 13 Million bpd by 2027

 Oil demand is expected to grow in Q3 2021 to 99 million barrels per day. (Reuters)
Oil demand is expected to grow in Q3 2021 to 99 million barrels per day. (Reuters)
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Aramco to Boost Capacity to 13 Million bpd by 2027

 Oil demand is expected to grow in Q3 2021 to 99 million barrels per day. (Reuters)
Oil demand is expected to grow in Q3 2021 to 99 million barrels per day. (Reuters)

Saudi Arabia’s national oil company will complete its one million barrel per day (bpd) oil output expansion project by 2027 to bring its total production to 13 million bpd, its CEO said on Monday.

“Our maximum sustained capacity from 12 to 13 million (bpd)... is not going to come to full capacity at 13 million bpd until 2027,” Saudi Aramco CEO Amin Nasser told the Energy Intelligence Forum online conference.

Aramco, the world’s largest oil exporter, also aims to expand its oil trading business to eight million bpd over the next five years from its current 5.5 million bpd, Nasser said.

Global oil demand is “very healthy” he affirmed, noting that it will amount to 99 million bpd by the end of 2021 from 97 million bpd in Q3 2021, with some natural gas customers switching to liquids.

The CEO pointed to the company’s efforts to extract carbon emissions from vehicles, while striving to reduce the impact of internal combustion engines on the environment by providing low-carbon means of transportation.

He referred to the linear carbon economic model in which economies discard raw materials as waste after use, stressing that the circular carbon economic system uses resources again.

“A circular carbon economy is a framework for managing and reducing emissions. It is a closed loop system involving 4Rs: reduce, reuse, recycle, and remove.”

Nasser said the kingdom and Aramco have adopted the circular carbon economy framework as a way to reduce their carbon footprints.

The concept of an economy based on carbon recycling is described as a basic pillar that helps in rebalancing the carbon cycle in the world.



Aramco Inaugurates Regional Center for Sustainable Fishery Development on Abu Ali Island

tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
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Aramco Inaugurates Regional Center for Sustainable Fishery Development on Abu Ali Island

tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco

Saudi Aramco announced on Thursday the inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture.

Through this collaboration, Saudi Aramco aims to highlight its investments in citizenship initiatives and its efforts to drive economic growth, support local fishermen and their livelihoods, build expertise, and adopt the best practices to enhance production and cultivate fish of marketable sizes that can compete globally.

The center is part of the company's broader efforts to protect marine life in the Arabian Gulf. It involves the establishment of a fish hatchery on Abu Ali Island in Jubail, located on the Arabian Gulf coast, designed to produce local fish species that have experienced population declines due to fishing practices and to reintroduce them into Gulf waters.

The center's operations are designed to encompass the complete fish life cycle within designated tanks, from broodstock for egg production to larval rearing using plankton produced on-site and finally to the release of juvenile fish into the Arabian Gulf. The hatchery employs advanced aquaculture technologies to ensure fish health, and it utilizes top-tier water recycling techniques to enhance performance and meet the company's circular economy objectives.

The project aligns with Saudi Aramco's mangrove plantation initiative, under which more than 43 million trees have been planted to date. Mangrove forests provide vital nursery habitats for the juvenile fish released into the Gulf, further supporting the sustainability of marine ecosystems.