Saudi Aramco to halt fuel oil exports
Saudi Aramco will halt fuel oil exports three months ahead of the start of summer, due to swelling demand for power generation fuels and tighter gas supplies, industry sources said on Monday.
The Saudi giant oil company Aramco last year completed the largest investment programme in its history costing 375 billion riyals which enabled it to maintain a steady production of oil at the rate of 12 million barrels per day and also enabled it to expand its refining capacity and to establish more petrochemical plants.