Saudi Aramco to Expand Oil Field…. Bloomberg

April 25, 2016 by Jim Colburn Leave a Comment

Bloomberg reports that Saudi Aramco is increasing output capacity in the Shaybah field by 250,000 bpd:

“Shaybah’s expansion will help Saudi Aramco, as the state producer is known, keep the company’s capacity at 12 million barrels a day, they said.”

This is the kind of article one might expect to see if a state owned oil company was moving toward a more market oriented policy… That is, production would be based on profitability of the marginal barrel….

Here is the link: http://www.bloomberg.com/news/articles/2016-04-24/aramco-said-to-expand-oilfield-in-may-to-maintain-saudi-capacity

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