Saudi Aramco Says Oil Price Falls May Curb Investment

Saudi Aramco, the world’s biggest state-owned oil company, said a further drop in crude oil prices may curtail investments needed to offset declining output in aging fields, while Oil & Natural Gas, India’s state oil explorer, said it may seek to acquire energy assets in Africa and Latin America to secure supplies.
Investment is also needed to expand production capacity to meet long-term demand growth, Chief Executive Officer Abdallah Jum’ah said in a handout distributed today at an industry summit in Beijing.