Middle East Economic Survey


No 24


Naimi Says Budgeting $20-30Bn Over Five Years To Maintain Saudi Capacity

Saudi Minister of Petroleum and Mineral Resources Ali Naimi has said that Saudi Aramco is budgeting $20-30bn over five years to maintain Saudi capacity at 12.5mn b/d. In an interview with Petroleum Policy Intelligence (PPI) CEO Bill Farren-Price, Mr Naimi said that Saudi Aramcos central planning scenario sees the call on Saudi crude at 10mn b/d by 2015, and that the...