Saudi Aramco targets 2023 capex spending of up to $55 billion
Saudi Aramco, the world’s largest oil-exporting company, forecast its capital expenditure for 2023 at $45 billion-$55 billion in its largest spending exercise to date as it looks to increase its maximum sustained output capacity to 13 million b/d by 2027, the company said in its full year financial results on March 12. Hydrocarbons production in 2022 averaged 13.6 million boe/d,…