Saudi Aramco starts East-West pipeline expansion work

Saudi Aramco has begun initial engineering work to expand its East-West pipeline, CEO Amin Nasser announced Tuesday, while stating the company could raise maximum sustainable production capacity above 12 million barrels per day if the government decides to do so. The expansion aims to increase the pipeline's capacity from 7 to 10 million barrels per day, following multiple attacks on the line during the current escalation with the Houthi group. Nasser also projected global liquids demand growth of about 2.4 million barrels per day in 2027, noting China's return as a major crude buyer with seaborne imports between 11 and 11.3 million barrels daily. Aramco resumed exports within days of pipeline attacks using Gulf export points and ship-to-ship transfers. The company reported a 34.5% rise in third-quarter 2026 net profit to $36.25 billion, with adjusted net income of $31.2 billion beating analyst expectations.