Saudi oil attacks: Will fuel prices go up?

thumbnail

Saudi Arabia’s state-owned company Aramco is the world’s biggest oil producer, generating 10% of the world’s oil, but it is also one of the world’s most profitable businesses.

For a drone attack to have knocked half of its – and 5% of the world’s – oil supply offline, speaks to the vulnerability of their plants and in turn to the vulnerability of a vital part of the global energy infrastructure.

The Khurais oilfield produces about 1% of the world’s oil, and Abqaiq is the company’s largest facility – with the capacity to process 7% of the global supply.

Questions being asked centre on why this attack could not have been prevented by a company with such deep pockets and whether it can happen again.

Back To Top

Copyright 2019. Bishopsgatecommunications. All rights reserved