Saudi Aramco secures exports with new routes and storage plans
Saudi Aramco is making its oil exports more secure after repeated attacks on Saudi energy infrastructure and tankers.
CEO Amin Nasser shared that they're working on a fourth and fifth export route and studying additional overseas storage to keep oil flowing, even with threats from Yemen's Houthi rebels.
He reassured customers that Aramco can still meet demand without dipping into reserves and can make 12 million barrels per day available within days if needed.
Aramco targets 9 million boe/day gas output
Aramco isn't just focused on oil: they're aiming to boost natural gas output too, targeting 9 million barrels of oil equivalent per day by 2040.
Nasser pointed out that energy infrastructure is increasingly vulnerable, especially with so much information now available online like satellite images.
He also said the world needs at least 2 million barrels per day of additional demand for the next 18 months to rebuild current oil inventories.