Saudi Aramco’s OPEC+ targets to be unaffected by split from Energy Ministry: CEO

ABU DHABI, Sept 10: Saudi Aramco’s oil production targets under the OPEC+ deal on cuts will not be affected by the company’s split from the country’s Energy Ministry, CEO Amin Nasser said Tuesday.
“There’s no change when it comes to production targets or maximum sustained capacity,” Nasser told reporters on the sidelines of the World Energy Congress, asked how the split of Saudi Aramco from the Saudi Energy Ministry that was needed to prepare for the IPO would affect implementation of the OPEC+ deal.
Last week, then-Saudi Energy Minister Khalid al-Falih was removed from the board of directors of the oil company. The separation from the ministry is expected to help avoid conflict of interests ahead of the initial public offering.
Al-Falih was subsequently replaced as energy minister by Prince Abdulaziz bin Salman.
The public listing has been in the making for several years now. Initially expected in 2017, it has been delayed. However, the talk of the listing has re-energized this year. Falih said last month it could happen in 2020 or 2021.