(Reuters Breakingviews) - Saudi Aramco’s best-laid IPO plans just suffered a dro...
FILE PHOTO: Smoke is seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia, September 14, 2019. REUTERS/Stringer/File Photo
The strikes on Aramco’s Abqaiq and Khurais facilities are a major escalation of previous Houthi drone launches, which were mostly directed at Saudi energy infrastructure and airports. Abqaiq alone processed 50% of the company’s 10 million barrels per day crude oil production in 2018. Aramco’s maiden international bond prospectus in April identified the facility as critical for its financial condition.
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Drones detonate Saudi Aramco’s renewed IPO hopesAir strikes by Houthi rebels knocked out half the oil giant’s output. The drop should be temporary, and Saudi and OPEC peers need to cut production anyway to gee up crude prices amid weaker demand. Still, it’s another reason for investors to mind the risks of an Aramco listing.
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The world's largest oil plant in Saudi Arabia was attacked by 10 explosive drones ahead Aramco's plans for the biggest IPO everThe attack came ahead of state-owned oil giant Saudi Aramco's plans for what could be the largest initial public offering of stock in the world.
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Drone attacks strike major Saudi Aramco facility, oilfieldDrones attacked the world's largest oil processing facility in Saudi Arabia and a major oilfield operated by Saudi Aramco early Saturday, the kingdom's Interior Ministry said, sparking a huge fire at a processor crucial to global energy supplies.
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The Latest: Houthis claim drone attack on Saudi oil plantDUBAI, United Arab Emirates (AP) — The Latest on the explosion and fire at a major oil facility in Saudi Arabia (all times local): 12:50 p.m. A military spokesman for Yemen's Houthi...
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Yemen's Houthi rebels claim a 'large-scale' drone attack on Saudi oil facilitiesYemen's Houthi rebels have attacked Saudi Arabia's oil facilities with drones, the Houthi-run Al-Masirah news agency said Saturday.
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