1 min read.Updated: 15 Sep 2019, 07:40 PM ISTReuters
Aramco said it will deliver crude to Indian refinery from other sources and had adequate inventory
Aramco has lost half of its production capacity after attacks on its facilities on Saturday
Saudi Aramco has told one Indian refinery there will be no immediate impact on oil supplies as it will deliver crude from other sources and had adequate inventory, a source with the refinery said on Sunday.
Aramco has lost half of its production capacity after attacks on its facilities on Saturday and it remains unclear how long it will take the company to fix the damage.
State energy producer lost about 5.7 million barrels per day of output after 10 unmanned aerial vehicles on Saturday struck the world’s biggest crude-processing facility in Abqaiq and the kingdom’s second-biggest oil field in Khurais, the company said.
The attack was the biggest on Saudi Arabia’s oil infrastructure since Iraq’s Saddam Hussein fired Scud missiles into the kingdom during the first Gulf War. The damage highlights the vulnerability of the Saudi industry that supplies 10% of the world’s crude oil. The kingdom’s benchmark stock index tumbled as much as 3.1% on Sunday in Riyadh.