28 Apr '13, 9am
Tech Talk - OPEC and EIA short-term projections
Just this month Saudi Aramco announced that production had begun at their Manifa oilfield , and by July would be supplying up to 500 kbd to the new refinery that is being built at Jamail with the collaboration of Total . The first oil from the refinery is expected to ship in August, and both projects are currently ahead of schedule. Manifa will further increase in production next year, to 900 kbd, with the additional flow going to the Yanbu refinery being built with the collaboration of Sinopec . Both these refineries are designed to take heavy crude, and can also accept oil from the ongoing projects to expand production at Safaniya . Collectively this is said to ensure that the company will be able to achieve a maximum sustainable production of 12 mbd . The gains in available reserves are required as the current production from Ghawar and the other major fields in the Kin...