Saudi Aramco, the world’s largest oil producer, expects oil demand in the second half of 2025 to be more than two million barrels per day (bpd) higher than the first half, President and CEO Amin H Nasser said.
“Our long-term strategy is consistent with our belief that hydrocarbons will continue to play a vital role in global energy and chemicals markets,” he stated in the second quarter 2025 financial statement.
The company said it continues to advance the projects to maintain its maximum sustainable capacity at 12 million bpd, ensuring its agility in responding swiftly to changing market conditions.
Key project updates shared by the oil major on its second-quarter financial statement are as follows:
- Phase one of the Dammam development project was brought on stream in 2025, which is to be followed by phase two in 2027 for a total increase in crude oil production capacity of 75 million bpd
- Procurement and construction activities progressed for the Berri and Marjan crude oil increments, which are on track for completion in 2025 and provide additional crude oil production capacity of 250 million bpd and 300 million bpd, respectively
- Procurement and construction activities advanced for the Zuluf crude oil increment, which is expected to process 600 million bpd of crude oil from the Zuluf field through a central facility in 2026
- Construction activities progressed for the Tanajib Gas Plant, part of the Marjan development programme, which is on track for completion in 2025, adding 2.6 billion standard cubic feet per day (bscfd) of additional raw gas processing capacity from the Marjan and Zuluf fields.
- Procurement and construction activities continued for the Jafurah Gas Plant, part of the Jafurah unconventional gas field development, with phase one on track for completion in 2025. Production from Jafurah is expected to reach a sustainable sales gas rate of 2.0 bscfd by 2030, in addition to significant volumes of ethane, NGL, and condensate.
- Engineering, Procurement, and Construction (EPC) activities advanced for the Fadhili Gas Plant expansion, which is expected to add additional raw gas processing capacity of 1.5 bscfd by 2027.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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