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Saudi Aramco raises 2022 capex

 Last Update: 2022-04-25
 Source: Internet
 Author: User

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On March 20, Saudi Aramco said it will increase its capital expenditure level to $40 billion to $50 billion in 2022, assuming no change in oil production in 2021
.

Amin Nasser, CEO of Saudi Aramco, said in a statement: “Our investment plan aims to develop reliable, affordable, safer and sustainable energy to meet growing long-term demand
.

Although economic conditions have improved significantly, due to Various macroeconomic and geopolitical factors, the outlook remains uncertain

Regarding oil and gas demand in 2022, Nasser said that oil demand is expected to remain strong as countries such as China continue to show demand growth
.

He urged international energy companies to expand investment in oil and gas production to help deal with a tight market in 2022

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