Sunday 3 November 2019

Aramco says attack did not impact finances, operations - Reuters

Aramco says attack did not impact finances, operations - Reuters:

Saudi Aramco said it does not expect a recent attack on its oil plants to have a material impact on finances and operations as it launched an initial public offering (IPO) on Sunday by announcing its intent for a domestic flotation.

Aramco CEO Amin Nasser told a news conference after the IPO intent statement was published that the world’s largest oil firm was still the most reliable oil company globally.

The Sept. 14 strikes had targeted the Abqaiq and Khurais plants at the heart of Saudi Arabia’s oil industry, temporarily shutting down 5.7 million barrels per day (bpd) of output - more than 5% of global oil supply.

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