projects that will increase our maximum sustained production capacity from just over 11 million barrels per day now to 12.5 million barrels per day by next year, and how we will continue to expand refining capacity in Saudi Arabia and in key markets around the world. Here I want to reassert Saudi Arabia's commitment to this unparalleled expansion. We will proceed undeterred by financial and economic conditions: we are committed to investing to help ensure an uninterrupted supply of energy to the world. Our national oil company, Saudi Aramco, was recently cited by the International Energy Agency in their just-released, long-term Outlook as an entity well placed to address financing, technical and managerial challenges in meeting our share of the world's energy needs well into the future. I believe that many other success stories are present among the National and International Oil companies that make up our industry, and that this success can and should be mirrored throughout our business. --More
