Saudi launches new oil project

State oil giant Saudi Aramco announced yesterday the inauguration of a project adding 300,000 barrels of oil to the kingdom’s daily production capacity.

“In addition to its maximum production capacity of 300,000 bpd of Arabian Light crude, the facility has a gas processing capacity of 140 million standard cubic feet per day of associated gas,” it said. The facility was completed in January, ahead of schedule, the company said.