Aramco on track to raise output capacity to 13 million bpd, CEO says

Aramco on track to raise output capacity to 13 million bpd, CEO says

Saudi Aramco, the world's largest oil-exporting company, plans to undertake "detailed engineering" to raise its overall production capacity to 13 million barrels per day, according to its chief executive.

The company, which produces and sells oil on behalf of Saudi Arabia, reached a production capacity of 12.1 million bpd in April, when producers within Opec+ reached some of their highest output levels.

Any further additions to capacity "will come in increments, that will be put over time," Amin Nasser, president and chief executive of Saudi Aramco, told investors in a call on Monday.

"We do have a plan and we can accelerate if