Saudi Aramco will seek to manage rapid industry change

Significance Yet this follows a government directive that the company cancel increases in its maximum sustainable capacity (MSC) of crude oil production from 12 million barrels per day (b/d) to 13 million, which Aramco was planning to deliver by 2027. Impacts Capital spending discipline will make Aramco more attractive to institutional investors ahead of a planned second initial public offering. The government will likely push Aramco to localise its value chain further and enter non-core business areas. Carbon capture will be exponentially expanded to reduce the emissions intensity of upstream and downstream production.