2020-03-26 11:25:00
ARAMCO PLANS TO SUPPLY 12.3 MBD
MEOG - Saudi Aramco has developed emergency plans to maintain supply despite the closure of international borders and transportation routes, CEO Amin Nasser said, according to the Saudi Press Agency.
"The cornerstone of our company is the energy production, reliable supply and our commitment to our customers, especially in such difficult times, therefore we have developed emergency and prevention plans in all areas of our business to ensure the ongoing of our business, so that we can meet the needs of our customers around the world from energy products," he said.
Nasser noted that Saudi Aramco is "closely monitoring the situation every day," and has been "carrying out continuous preventive plans in all our business areas, in addition to detailed emergency plans and leading medical support services, in order to reduce risks, ensure the best possible care and curb COVID-19 infection."
Aramco plans to supply 12.3 million barrels per day of crude in the next two months, after talks with Russia to deepend OPEC+ output cuts floundered, starting a price war. The company will draw 3 million barrels per day from its stocks, producing 12 million barrels per day.
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Earlier:
2020, March, 24, 14:30:00
OIL PRICE: NEAR $28
Brent was up by $1.38 a barrel, or 5.1%, to $28.41, WTI gained $1.54, or 6.6%, to $24.90.
2020, March, 24, 14:20:00
U.S., SAUDI ARABIA #SANCTIONS
nine Republican senators asked the Department of Commerce to launch an anti-dumping case against Saudi Arabia following its price war with Russia.
2020, March, 23, 13:45:00
#OilPriceWar VICTIM
US oil producers are likely to be a victim of the oil-price war,
2020, March, 23, 13:35:00
ARAMCO'S OBLIGATIONS 12 MBD
Aramco has pledged to supply 12.3 million b/d of crude in April and May
