Aramco has announced that it has received a directive from the Ministry of Energy to maintain its Maximum Sustainable Capacity (MSC) at 12 million barrels per day (MMBD) and not to further increase MSC to 13 MMBD. This decision is by the Hydrocarbons Law, enacted by Royal Decree M/37 on December 20, 2017.
The company has indicated that it will update its capital spending guidance when it announces its full-year 2023 results in March. This directive underscores the regulatory framework in place to manage and determine oil production levels in Saudi Arabia.
