Saudi Arabia's Crude Oil Production Capacity Reaches 11.3 Million Bpd
Posted on: Thursday, 23 March 2006, 09:01 CST
Saudi Arabia's crude oil production capacity reaches 11.3 million bpd
RIYADH, March 22 (Xinhua) -- Saudi Arabia's crude oil production capacity has increased about 3 percent from 11 million barrels per day (bpd) to 11.3 million bpd, the kingdom's oil minister said on Wednesday.
Ali bin Ibrahim al-Nuaimi, minister of oil and mineral resources, made the announcement after inaugurating a new oil-processing project in eastern Saudi Arabia.
Haradh III, a new oil-processing facility, has a maximum production capacity of 300,000 barrels of light crude oil, which contributes to the increase in the country's total, al-Nuaimi said.
The new facility has also a gas-processing capacity of 140 million standard cubic feet of associated gas per day.
Saudi crude oil production capacity has been kept at 9.5 million barrels per day since the second half of 2005, and is expected to rise to 12.5 million bpd by 2009, the oil minister said.
The country is committed to maintaining a minimum of 1.5 million barrels per day in spare output capacity to meet the emergency in the international oil market, he added.
Haradh III was officially approved in April 2004 and completed in January 2006.
Source: Xinhua News Agency - CEIS
Related Articles
- Saudi Says Crude is Flowing Freely: Prince Calls Lack of Refining Capacity the Real Problem
- Venezuela Exports 140,000 Barrels of Oil to China Per Day
- Crude Oil Prices Rise Above $63 a Barrel
- Crude Oil Prices Slide Below $64/barrel
- Crude Oil Prices Drop Below $65 a Barrel
- Crude Oil Prices Climb Toward $68 a Barrel
- Crude-Oil Prices Slip Below $64 a Barrel
- Crude Oil Prices Jump, Touching $68 a Barrel; Fears of Gulf Storm Also Fuel Spike in Natural Gas Prices
- Crude Oil Prices Jump to $68 a Barrel
- China's Crude Oil Output Increases 30 Million Barrels Year on Year
 |
 |
User Comments (0)
RSS Feeds