Overview
- Crude exports reached about 7.3 million barrels per day in the first 24 days of February, with Saudi Arabia hiring additional supertankers as prices topped $70 a barrel.
- Reuters reported the export increase is part of a contingency to limit market disruption tied to heightened regional tensions, while the UAE is also raising output.
- Aramco said production at the Jafurah unconventional gas field began in December 2025, and it has also started up the Tanajib Gas Plant operations from the same month.
- The company targets roughly an 80% increase in sales gas capacity by 2030, including about 2 bscf/d of sales gas from Jafurah, plus significant ethane and liquids output.
- Jafurah is estimated at 229 tscf of raw gas and 75 billion barrels of condensate with development costs over $100 billion, using contractors such as Halliburton and Sinopec; the fuel switch aims to replace around 500,000 bpd of oil use by 2030 and could add roughly $12.8–15 billion in annual cash flow and revenues depending on prices and demand.