A supertanker berths at Saudi Aramco’s Ras Tanura Sea Island Terminal, part of the Port of Ras Tanura, the world’s largest crude oil export terminal complex. Aramco was continuing to work on both its upstream and downstream projects without any cancellations, with its Khurais scheme expected to come online in 2018, the chief executive of the state-owned oil giant said yesterday. Global oil majors and Saudi Arabia have been paring back investments to cope with the continuing lower oil price environment. The kingdom is the world’s largest exporter of crude oil. “Until now, our projects are continuing in downstream, upstream, there are no projects that have been cancelled from our programmes,” Amin Nasser told reporters on the sidelines of an finance event. Asked if there will be any delay in exploration activities, Nasser said: “Exploration activities are continuing. We have one rig in the Red Sea in the shallow water.”