Monday, 14 October, 2019

Saudi Aramco sees full oil production capacity by end of November

Saudi Aramco worth less than $2T target: Report SAMA examines local lenders ahead of Saudi Aramco IPO
Jean Garcia | 12 October, 2019, 13:40

Saudi Aramco, the world's biggest oil company, reportedly is expected to file its IPO prospectus by the end of the month.

Most of the refiners are getting the crude grades that they want, the sources said on Thursday, adding that there was no request from state-owned oil company Saudi Aramco for them to change grades.

Crown prince Mohammed bin Salman has previously called for the company to be valued at $2 trillion, setting up Aramco's IPO to be the largest in history.

Aramco's oil production should be fully recovered by the end of November, the company's CEO told CNBC Wednesday.

Attacks such as the one on Saudi oil facilities which last month sent oil prices up by as much 20% may continue if there is no concerted global response, Saudi Aramco's Chief Executive Amin Nasser said on Wednesday.

Arizona Coyotes vs. Vegas Golden Knights - 10/10/19 NHL Pick, Odds, and Prediction
But then the Bruins answered with four consecutive goals - three from their top line of Marchand, Pastrnak and Patrice Bergeron . Vegas jumped out to a 2-0, first-period lead for the third straight game, netting two goals in the span of 1:44.

"An absence of worldwide resolve to take concrete action may embolden the attackers and indeed put the world's energy security at greater risk", Nasser said in rare political comments. "It's instigated by Iran for sure, there's no doubt".

A spokesperson for Iran's foreign ministry, Seyyed Abbas Mousavi, rejected the accusation that Tehran was behind the attacks, saying that "blind accusations and inappropriate comments in a diplomatic context are incomprehensible and meaningless".

Saudi Arabia has maintained supplies to customers at levels seen before the attacks by drawing from its huge oil inventories and offering crude grades from other fields.

Nasser also emphasised that "not one single customer" was affected by the cut in output after the attacks, with the company succeeding in efforts to calm the market and proving to its customers that "we are a reliable supplier".

Saudi officials have said the September 14 strike would not affect state finances or growth, but investors and analysts said they could have a long-term impact on ambitious plans to diversify the Saudi economy and attract foreign capital.

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