Saudi has restored oil output after attacks, focused on Aramco IPO – energy minister

Saudi has restored oil output after attacks, focused on Aramco IPO - energy minister
Saudi has restored oil output after attacks, focused on Aramco IPO - energy minister

Saudi Arabia has fully restored oil output afterattacks on its facilities last month and is now focused on the listing of SaudiAramco, its energy minister Prince Abdulaziz bin Salman said.

The kingdom's oil production capacity now stands at11.3 million barrels per day, he told a Moscow energy conference on Thursday,adding: "We all rose to the challenge".

"We have stabilised production capacity, we areat 11.3… We still have the kit and the tools to overcome any futurechallenges…"

The listing of Aramco is the centrepiece of SaudiArabian plans to shake up its economy and diversify away from oil.

Bankersfrom around 20 international and domestic financial institutions are nowworking on the company's plan to sell 1% of Aramco in Riyadh before an internationalsale in 2020 or 2021. 

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