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"Aramco" announces its vision of the oil market
Sat, 15 Apr 2017 12:37:34
CEO of "Aramco" Saudi Arabia, Nasser Amin, yesterday, expressed optimism towards the oil market to balance soon, expected demand for crude in the long-term growth.
And Nasser said that taking supplies to fall below demand in the coming years, and that "the market position in the future will be on the floor of a more solid and increasingly. However, volatility may continue to become the return of balance more coherent and take withdrawals from stocks more consistent trend."
Nasser predicted high demand for oil and gas with the addition of more cars powered by conventional fuel compared with electric cars in the coming years, even though the emergence of more efficient engines and the use of renewable energy in some ways light transport.
From the point of view of Nasser, the most important reasons that pushed the market despite the "OPEC" agreement on the reduction of production, is the number of drilling rigs operating in the United States for the production of shale oil, and the increase in US inventories.
As for exports, "Aramco" Nasser confirmed that between 60 and 70% of them heading to the Asian market.
The company seeks to increase its production of gas as well, and expects to double its reach at 23 billion standard cubic feet per day in the next decade.
Aramco is preparing to list its shares on the stock market next year and seeks to reach the value of the company to two trillion dollars in what could be the largest IPO in the world.
http://www.jumhuriya.news/news.php?id=10495
Sat, 15 Apr 2017 12:37:34
CEO of "Aramco" Saudi Arabia, Nasser Amin, yesterday, expressed optimism towards the oil market to balance soon, expected demand for crude in the long-term growth.
And Nasser said that taking supplies to fall below demand in the coming years, and that "the market position in the future will be on the floor of a more solid and increasingly. However, volatility may continue to become the return of balance more coherent and take withdrawals from stocks more consistent trend."
Nasser predicted high demand for oil and gas with the addition of more cars powered by conventional fuel compared with electric cars in the coming years, even though the emergence of more efficient engines and the use of renewable energy in some ways light transport.
From the point of view of Nasser, the most important reasons that pushed the market despite the "OPEC" agreement on the reduction of production, is the number of drilling rigs operating in the United States for the production of shale oil, and the increase in US inventories.
As for exports, "Aramco" Nasser confirmed that between 60 and 70% of them heading to the Asian market.
The company seeks to increase its production of gas as well, and expects to double its reach at 23 billion standard cubic feet per day in the next decade.
Aramco is preparing to list its shares on the stock market next year and seeks to reach the value of the company to two trillion dollars in what could be the largest IPO in the world.
http://www.jumhuriya.news/news.php?id=10495
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