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Article: Saudi Aramco Ready to Fill Any Breach in Supply in Event of War.(oil production plans, possible war in Iraq)
- Article from:
- The Oil Daily
- Article date:
- March 5, 2003
CopyrightCOPYRIGHT 2003 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dhahran -- Saudi Aramco, the world's largest oil producer, is currently playing as critical a role in stabilizing near- term oil markets as it has for many years. Saudi crude is stepping into the breach left by Venezuela's strike, while meeting demand to build stocks in Asia and elsewhere in preparation for a war in Iraq.
Aramco tells Oil Daily that it could nudge up production in a matter of days to what it says is its sustainable capacity of close to 10 million barrels per day. Some oil industry sources in Saudi Arabia say Aramco could, in a real emergency, produce 300,000 b/d above its stated capacity within a period of four to five months by mobilizing a ...