'Oil demand during first part of Q2 2020 estimated at 20-25mn barrels'

'Oil demand during first part of Q2 2020 estimated at 20-25mn barrels'
'Oil demand during first part of Q2 2020 estimated at 20-25mn barrels'

We show you our most important and recent visitors news details 'Oil demand during first part of Q2 2020 estimated at 20-25mn barrels' in the following article

Hind Al Soulia - Riyadh - Okaz/Saudi Gazette

RIYADH — Saudi president and CEO Amin Nasser said that the company has raised the production capacity to 12 million barrels per day compared to 11.4 million barrels in 20 days during the coronavirus crisis.

“The demand for oil during the first part of the second quarter of 2020 was estimated at 20-25 million barrels per day,” he said while participating in a virtual session organized by the Eastern Chamber of Commerce and Industry on Monday.

Nasser announced 60 percent completion of the first phase of King Salman Energy City, noting that the first phase will be completed in 2021. He estimated the volume of investments in the city at $3.5 billion while the returns to the national economy at about $6 billion, with the city adding about 100,000 direct and indirect jobs over the coming 15 years.

Al-Nasser said the work is underway to establish a complex for digital and non-metallic industries in the city. “This contributes to attracting large companies and opens the way for medium and small enterprises to serve and support these industries. Aramco faced great challenges during the coronavirus crisis, but it was able to deal with it through the company’s risk management program, and its strong financial solvency.”

He said that 40 percent of the construction of the infrastructure of the King Salman Marine Industries and Services Complex has been completed and the project is expected to be completed by 2022 with an estimated volume of investments at about $5 billion.


These were the details of the news 'Oil demand during first part of Q2 2020 estimated at 20-25mn barrels' for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Saudi Gazette and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Saudi Arabia calls for extending arms embargo on Iran
NEXT Coronavirus forces Makkah women to abandon 70-year-long noble tradition