The world's largest Saudi Aramco state oil and gas company on hydrocarbon production increased oil extraction in 2016 by 2,9% - to 10,5 million barrels a day, inventories of oil and condensate constituted 260,8 billion barrels. It is said in the annual report of the company.
As it is noted, oil extraction in 2016 became record. In the history of the company also gas production which increased by 3,8% - to 8,3 billion cubic feet a day (1 cubic foot = 0,02 CBM) became maximum. Gas inventories on the end of the year constituted 298,7 trillion cubic feet.
The company increased oil export by 7,7% - to 2,79 million barrels a day. In 2016 the company exported about 70% of all oil to Asia, 15,8% - to the USA, 5,9% - to Northern Europe, another 5,4% - to the Mediterranean.
Saudi Aramco in 2016 found two new oil fields and one gas. The total quantity of fields after a regrouping on the end of the year reached 130.
As it was reported, the crown prince of Saudi Arabia Muhammad bin Salman in January, 2016 initiated entry of the company into the stock market. It is about primary placement of 5% of shares, the IPO can take place in 2018. The packet is estimated at 2 trillion dollars, writes "Finanz.ru".
At the end of May the Minister of Energy of the kingdom, the head of the Council of directors of Saudi Aramco Khaled al-Falekh discussed possibilities of a cooperation with the head of "Rosneft" Igor Sechin. The companies discussed interaction in the field of oil processing, petrochemistry and trading. Several days later in an interview to TASS on PIEF the minister told that these negotiations will lead to specific projects.