Saudi Aramco plans to reduce its January crude oil shipments to Asia by over 100,000 barrels per day compared to December. Meanwhile the company’s exports to the US and Europe will be kept steady.
Saudi Arabia will maintain its crude oil exports in January at 6.9 million barrels per day.
Saudi Aramco will invest more than $300 billion on oil and gas projects during the next decade, President and CEO Amin Al Nasser said.
The company is looking to increase its refining capacity to 8-10 million barrels per day from 5 million barrels per day currently.
Nasser also added that Saudi Aramco plans to list 5% of the company publicly in an IPO next year.
