Saudi Aramco announced today that it has received a directive from the Ministry of energy to maintain the level of maximum sustainable production capacity at 12 million barrels per day, and not to continue raising the maximum sustainable production capacity to the level of 13 million barrels per day.

Aramco explained that the level of maximum sustainable production capacity is determined by the state in accordance with the hydrocarbons system issued by Royal Decree No. (m/37) dated 2 Rabi al-Thani 1439 corresponding to December 20, 2017.

The company will update its capital expenditure guidance when the 2023 results are announced in March.