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Aramco CEO: Lack of Int’l Resolve to Take Concrete Action May Embolden Attackers

Aramco CEO: Lack of Int’l Resolve to Take Concrete Action May Embolden Attackers

Wednesday, 9 October, 2019 - 18:45
Saudi Aramco CEO Amin Nasser. (Reuters)
Asharq Al-Awsat
Saudi Aramco’s chief executive said on Wednesday there would be no impact on the stock market listing plans of the state oil giant after attacks on its installations last month, which he blamed on Iran.

The September 14 attacks against the Abqaiq and Khurais plants may continue if there is no concerted international response, Amin Nasser told the Oil & Money conference in London.

“An absence of international resolve to take concrete action may embolden the attackers and indeed put the world’s energy security at greater risk,” he said.

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 added that the attacks had no effect on Aramco’s revenues because the company continued to supply customers as planned. The attacks also had “no impact on the (initial public offering) whatsoever”, he said.

He said Aramco was on track to regain its maximum oil production capacity of 12 million bpd by the end of November and that October crude output stood at 9.9 million bpd.

The Kingdom’s crude oil production capacity is now 11.3 million bpd, the Saudi Energy Minister, Prince Abdulaziz bin Salman, said last week.

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