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Al-Nasr: "Aramco" to boost pipeline capacity
The CEO and Chief Executive Officer of Saudi Aramco, Amin bin Hassan Al-Nasser, stated that the company is working to increase the capacity of the East-West Pipeline to 10 million barrels per day, as part of efforts to enhance its export capabilities, after losing nearly 3 billion barrels of supplies in markets since the beginning of the crisis. He explained that one of the factors that contributed to the rise in oil prices was the East-West Pipeline, which the government has recommended increasing its capacity for decades. He also confirmed that Aramco possesses a high level of capability to respond quickly in emergency situations and aims to grow oil demand by 3 million barrels per day after the crisis. On another note, the company is focusing on increasing gas production by 80% between 2021 and 2030, working on developing new export projects, with a commitment to completing phase two of the Jafurah project by 2027, and maintaining the cost of oil production at a fixed $3 per barrel thanks to advanced technology.
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