21 Hrs
Source:
الاقتصادية
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Aramco Aims to Boost East-West Capacity
The CEO and Chief Executive Officer of Saudi Aramco, Amin Nasser, confirmed that the company is working to increase oil export capacity via the "East-West" pipeline from 7 million barrels per day to 10 million barrels, and is exploring new routes to enhance supply flexibility. He pointed out that the current crisis resulting from the war in the region has led to a loss of 3 billion barrels of supplies in the market since the crisis began, impacting global demand and reserves. The company has also reactivated and expanded the East-West pipeline since the 1980s, which has helped maintain stable supplies. Additionally, he emphasized the importance of technology and infrastructure, noting that Aramco possesses the largest external storage capacity. The company continues to implement expansion projects in natural gas, aiming to increase its production by 80% by 2030 to reduce dependency on liquid fuels and improve operational efficiency. Nasser added that digital transformation has generated added value of over $11 billion, and energy security has now become a top priority globally.
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