Saudi oil supplies back to prior attack levels: Energy Minister

Saudi Arabia’s oil supplies have returned to their levels prior to the terrorist attack that targeted two Aramco facilities on Saturday, Energy Minister Prince Abdulaziz bin Salman said in a press conference this evening.
 

The state-owned oil giant will be fulfilling all its obligations for September from its stock, he said.
 

Aramco will return to its full production capacity by the end of the month. Gas production will gradually return to its normal levels by that time as well, he said.
 

The attack on the Saudi oil sector is actually an attack on global energy, the minister said, adding that Aramco’s strategic stock was effective at these critical times.
 

“Aramco has a large storage capacity to cover its operations,” Prince Abdulaziz said.
 

Talking to the press, Aramco’s CEO Amin Nasser said that Abqaiq facility currently produces 2 million barrels per day, and it will be returning to its normal levels before the end of this month.
 

It took seven hours to put off the fire resulting from the attack, he said, adding that major repairs have taken place in both facilities and the damage has been assessed.
 

“We have a hard-earned reputation for nearly 100 percent reliability in terms of meeting our international customers’ requirements and we have defended that.”

The company adjusted deliveries and shipments to customers by drawing on inventories and offering additional crude production from other fields.

“Not a single shipment to an international customer has been or will be missed or canceled as a result of these attacks. We have proven that we are operationally resilient and have confirmed our reputation as the world’s leading supplier,” Nasser said.

“The company has met its commitments to its International customers, even in challenging situations, including past Gulf conflicts,” he added.

Terrorist attacks on Saudi Aramco’s facilities in Abqaiq and Khurais on Saturday had led to a temporary production halt.