Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has received a directive from the Ministry of Energy to maintain its maximum sustainable capacity (MSC) and not to continue increasing it to 13 million barrels per day (MMBD).

Based on the announcement made on 30 January 2024, Aramco will keep its MSC at 12 MMBD.

The global oil giant stated that MSC is determined by the State pursuant to the Hydrocarbons Law, enacted by Royal Decree M/37, dated 20 December 2017.

Aramco noted that it will update its capital spending guidance when disclosing its full-year 2023 financial results in March 2024.

During the first nine months (9M) of 2023, the listed company generated net profits worth SAR 354.54 billion and revenues of SAR 1.24 trillion.