BLOOMBERG.COM
Crude production averaged 10.5 million barrels a day compared with 10.2 million barrels in 2015, the state-owned company known as Aramco said in its annual review published Thursday on its website. Crude oil and condensate reserves stood at 260.8 billion barrels compared with 261.1 billion barrels a year earlier. Natural gas production rose to 12 billion standard cubic feet a day from 11.6 billion standard cubic feet.
“This past year, Saudi Aramco leveraged its capabilities, talent, innovation and fiscal discipline to ensure resilience and realize landmark achievements, including record high rates of crude oil production, raw gas processing and sales gas production,” Chairman Khalid Al-Falih, who is also Saudi Arabia’s energy minister, said in the review. “All of this was achieved against the backdrop of persistently low oil prices and a weak global economy."
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