Aramco Restores Oil Output

Aramco Restores Oil Output

Saudi Arabia has resumed to its average oil production, which makes Saudi Aramco fully focused on its initial public offering (IPO), according Reuters.

According to the Saudi energy minister Prince Abdulaziz bin Salman, production capacity have been fully stabilized, standing at 11.3 million barrels per day, adding during an energy conference at Moscow on Thursday, “We all rose to the challenge. We still have the kit and the tools to overcome any future challenges.”

About 20 international and domestic financial institutions are currently working on the company’s plan to sell 1% of Aramco in Riyadh before an international sale in 2020 or 2021.


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