HomeNews listOBJECTIVE PRESSSaudi Arabia Says Energy Transition Drove Decision to Halt Capacity Expansion

Saudi Arabia Says Energy Transition Drove Decision to Halt Capacity Expansion

  • February 12, 2024
  • Posted by: AliensFaith
  • Category: OBJECTIVE PRESS
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The decision of Saudi Arabia to abandon plans to expand its crude oil production capacity is a result of the energy transition, Saudi Energy Minister, Prince Abdulaziz bin Salman, said on Monday. At the end of last month, Saudi Arabia surprised the oil market by announcing a shift in production capacity strategy.   State oil giant Aramco said it was ordered by the Kingdom’s leadership to stop work on expanding its maximum sustainable capacity to 13 million barrels per day, instead keeping it at 12 million bpd. The world’s…      



Author: AliensFaith
HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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