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2019-09-16 14:45:00

ARAMCO'S OUTPUT WILL DOWN BY 5.7 MBD

ARAMCO'S OUTPUT WILL DOWN BY 5.7 MBD

MEOGSaudi Aramco has controlled fires at its Abqaiq and Khurais plants, after a drone attack left them damaged, but no personnel harmed, according to a statement by the company. It will see its production halved, with a 5.7mn barrel per day drop in output due to the attack.

Yemen's Houthi rebels claimed responsibility for the attack, with a spokesperson saying it used 10 drones in its latest attack on Saudi Arabia's oil infrastructure. In an interview with Houthi-owned al-Masirah TV, spokesman Yahya Sarea said that more attacks would come in the future.

The attack comes days into Prince Abulaziz bin Salman's tenure as the nation's energy minister. He said that the terrorist attack "resulted in the temporary suspension of production at Abqaiq and Khurais plants," according to a statement given to the Saudi Press Agency (SPA).

Saudi Crown Prince Mohammed bin Salman received a call from US President Donald Trump following the attacks, where Trump said the US was ready to cooperate with Saudi Arabia to maintain its security and stability, according to SPA, noting that the attacks would have an impact on the US and global economy. The crown prince said the kingdom was willing and able to deal with terrorist aggression and its consequences.

US Secretary of State Mike Pompeo blamed Iran for the attack, which he called "an unprecedented attack on the world's energy supply." He also claimed that "there is no evidence the attacks came from Yemen."

The Ministry of Interior has started an investigation into the attacks, according to SPA.

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Earlier:

ARAMCO'S OUTPUT WILL DOWN BY 5.7 MBD
2019, September, 6, 13:40:00
ARAMCO INVESTMENT TO CHINA
Saudi Aramco signed a Memorandum of Understanding (“MoU”) with China’s Zhejiang Free Trade Zone, in which the Zhoushan Government emphasized its support for incentivizing Saudi Aramco’s greater investment in Zhejiang’s future downstream growth.
ARAMCO'S OUTPUT WILL DOWN BY 5.7 MBD
2019, September, 6, 13:20:00
ARAMCO SELLS LNG
Saudi Aramco, the world’s most profitable company, is trying to break into the fledgling market for liquefied natural gas trading. To do so, the state-owned company is tapping its decades-old network of oil-trading contacts, selling its first two cargoes to longstanding crude customers in South Korea and India.
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Tags: SAUDI, ARAMCO, OIL, OUTPUT