About: http://data.cimple.eu/news-article/5a2487f6cb7c8444a1b631c12f20eb757ab62a62b386d5e13d8f3707

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/5a2487f6cb7c8444a1b631c12f20eb757ab62a62b386d5e13d8f3707 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Oil giant Saudi Aramco will syphon 300,000 barrels of crude per day from its vast stocks as it boosts output, its chief said Monday amid an escalating price war with Russia. "Our maximum sustained output capacity is 12 million bpd," CEO Amin Nasser said. In April that will rise to 12.3 million bpd, he said, adding: "The 300,000 will be coming from our inventories." Speaking via webcast, he said the firm had significant stocks of crude stored both inside and outside Saudi Arabia. The kingdom and other major producers, including Russia, failed to reach a deal earlier this month to slash output and shore up prices. Riyadh said last week it would increase its production from 9.7 million bpd to 12.3 million bpd from April. It had already slashed its price for April delivery after Russia rejected a proposal for a co-ordinated cut of 1.5 million barrels per day among members of producer cartel OPEC+. Global oil prices have gone into meltdown as the novel coronavirus hits the global economy, slashing demand even as producers boost their output after the talks collapsed. Nasser said Aramco could keep up its new level of output for a sustained period. "Our maximum (output) capacity is sustainable for one year without the need for any additional building. It does not require any additional capital," he said. The firm's senior vice-president of finance Khalid al-Dabbagh said Aramco's low production costs meant it could sustain very low oil prices for an extended period. Aramco is also working to raise its output capacity from 12 million bpd to 13 million bpd, Nasser said, without giving a timeframe. Brent North Sea oil plunged more than ten percent on Monday to a four-year low of $30.15 per barrel. Saudi Aramco on Sunday reported a 20.6 percent drop in net profit for 2019 due to lower crude prices and production cuts. Its net income was $88.2 billion last year compared to $111.1 billion in 2018. oh/par
schema:headline	Oil giant Aramco says will tap inventories to raise output
schema:mentions	Khalid of Saudi Arabia Gamal Abdel Nasser OPEC Ten Percent Riyadh Saudi Aramco Barrel Saudi Arabia Chief executive officer Russia Coronavirus North Sea oil Webcast Net income Price war Brent North (UK Parliament constituency)
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-16 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	52 (xsd:integer)

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 5 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software