Saudi Aramco plans to spend $52 billion to $58 billion in capital expenditure in 2025, the company said in its 2024 financial results statement on Tuesday.

Total capital investment for 2024 reached $53.3 billion, including $50.4 billion organic capex.

The company expects additional operating cash flows of $9 billion to $10 billion from growth in its upstream gas business and $8 billion to $10 billion from its downstream business by 2030.

Aramco said that its spare capacity provides flexibility to help meet potential oil demand growth.

“If called upon, utilising one million barrels per day of existing spare capacity could generate an additional $12 billion in operating cash flow based on 2024’s average price,” the statement said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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