India condemns Saudi oil field attacks
5 years, 3 months ago

India condemns Saudi oil field attacks

India TV News  

India on Monday condemned the September 14 attacks on the Saudi Arabian oil fields and reiterated its resolve to oppose terrorism in all its forms and manifestations. In a statement, the Ministry of External Affairs spokesperson Raveesh Kumar said: "We condemn the attacks of September 14, 2019 targetting Abqaiq oil processing facility and Khurais oil field in Saudi Arabia. Saudi state energy producer Saudi Aramco lost about 5.7 million barrels per day of output on Saturday after 10 unmanned aerial vehicles struck the world's biggest crude-processing facility in Abqaiq and the kingdom's second-biggest oil field in Khurais. Iran-backed Houthi rebels in Yemen have claimed credit for the attack, but US President Donald Trump and Secretary of State Mike Pompeo have already accused Iran for the attack.

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History of this topic

Saudi Arabia is losing its iron grip on global oil markets
1 month ago

Saudi Arabia is losing its iron grip on global oil markets

Live Mint  

Saudi Arabia’s sway over the Organization of the Petroleum Exporting Countries long meant unquestioned dominance of the global oil market. “They won’t be able to bring oil back online next year," said a Saudi official. “It’s really easy to be part of a cartel when a market is growing," said Jorge León, a Rystad Energy analyst who formerly worked for …

Saudi oil giant Aramco posts third-quarter profits of $27.5 billion, down 15% from a year earlier
2 months ago

Saudi oil giant Aramco posts third-quarter profits of $27.5 billion, down 15% from a year earlier

The Independent  

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Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices
5 months ago

Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi oil giant Aramco reported …

Saudi Arabia's oil giant Aramco says it will not increase maximum daily production on state orders
11 months, 1 week ago

Saudi Arabia's oil giant Aramco says it will not increase maximum daily production on state orders

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia's oil giant Saudi …

Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December
1 year, 4 months ago

Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. Bob McNally, the founder and president of the Washington-based Rapidan Energy Group and a former White House energy adviser, said Saudi …

Saudi Arabia's Aramco Q2 profit drops 40% due to lower oil prices
1 year, 5 months ago

Saudi Arabia's Aramco Q2 profit drops 40% due to lower oil prices

Hindustan Times  

Saudi Arabia's state-run oil giant Aramco made $30 billion in profit in the second quarter, a nearly 40% decline from the same period the previous year, which it attributed to lower crude oil prices. An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia. In an earnings report filed …

Saudi Arabian oil giant Aramco reports $30B in Q2 profits, down nearly 40% from last year
1 year, 5 months ago

Saudi Arabian oil giant Aramco reports $30B in Q2 profits, down nearly 40% from last year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia's state-run oil giant …

Saudi oil giant Aramco reports $30B in profits, down nearly 40% from last year due to lower prices
1 year, 5 months ago

Saudi oil giant Aramco reports $30B in profits, down nearly 40% from last year due to lower prices

Associated Press  

DUBAI, United Arab Emirates — Saudi state-run oil giant Aramco on Monday reported $30 billion in second quarter profit, a nearly 40% decline from the same period the previous year that it attributed to lower oil prices. In an earnings report filed with the Saudi stock exchange, Aramco said the decrease “mainly reflected the impact of lower crude oil prices …

Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers
1 year, 7 months ago

Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers

Associated Press  

FRANKFURT, Germany — Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries in the OPEC+ alliance failed to push oil higher. The Saudi cut of 1 million barrels per day, to start in July, …

Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices
1 year, 7 months ago

Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices

The Hindu  

Saudi Arabia said on June 4 that it will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two earlier production cuts by members of the OPEC+ alliance of major oil-producing countries failed to push prices higher. “This is a grand day for us, because the quality …

Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices
1 year, 7 months ago

Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices

LA Times  

Saudi Arabia said Sunday that it will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two earlier production cuts by members of the OPEC+ alliance of major oil-producing countries failed to push prices higher. “This is a grand day for us, because the quality of the …

Oil giant Saudi Aramco's 1st quarter profit down 20% to $31B
1 year, 8 months ago

Oil giant Saudi Aramco's 1st quarter profit down 20% to $31B

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Oil giant Saudi Aramco reported …

Morning brief: Saudi, Russia plan to cut oil production. Will it impact India?
1 year, 8 months ago

Morning brief: Saudi, Russia plan to cut oil production. Will it impact India?

Hindustan Times  

Saudi's plan to cut oil production will put burden on India: Energy body People walk by an oil refinery operated by Bharat Petroleum Corp. Ltd., in Mumbai, India. International Energy Agency executive director Fatih Birol predicted that India's oil import bill is likely to increase in the second half of the year following the decision to cut in oil production …

Oil powers, including Saudi Arabia, announce cuts that amount to more than 1 million barrels per day
1 year, 9 months ago

Oil powers, including Saudi Arabia, announce cuts that amount to more than 1 million barrels per day

ABC  

Major oil powers led by Saudi Arabia have announced a surprise production cut of more than 1 million barrels per day, calling it a "precautionary" move aimed at stabilising the market. Key points: Cuts by Saudi Arabia, Iraq, UAE, Kuwait, Algeria and Oman will top one million barrels per day Russia is extending its existing cut of 500,000 barrels per …

Saudis, other oil giants announce surprise production cuts
1 year, 9 months ago

Saudis, other oil giants announce surprise production cuts

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. Even though the production cut is only about 1% of the roughly 100 million barrels of oil the world uses …

From Saudi Arabia to Iran - Nearly a dozen countries announce oil output cuts from May
1 year, 9 months ago

From Saudi Arabia to Iran - Nearly a dozen countries announce oil output cuts from May

Live Mint  

About a dozen nations, ranging from Saudi Arabia to Iran, announce reductions in oil production beginning in May as a result of rising crude prices and India's trade deficit, which was $17.43 billion in February. United Arab Emirates — Saudi Arabia said Sunday that it will reduce oil output by 500,000 barrels per day between May and the end of …

Saudi Arabia to cut oil production by 5,00,000 barrels per day from WHEN | KNOW DETAILS
1 year, 9 months ago

Saudi Arabia to cut oil production by 5,00,000 barrels per day from WHEN | KNOW DETAILS

India TV News  

Saudi Arabia oil production : Saudi Arabia today said that it will cut oil production by 5,00,000 barrels per day from May until the end of 2023. Saudi Energy Ministry on oil production : The ministry described the move as a precautionary measure aimed at stabilising the oil market. The cuts represent less than 5 per cent of Saudi Arabia's …

Oil giant Saudi Aramco makes a historic $161B profit in 2022
1 year, 9 months ago

Oil giant Saudi Aramco makes a historic $161B profit in 2022

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco reported Sunday earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists. The monster profit by the firm, known formally as the Saudi Arabian Oil Co., came off the back of energy prices rising after Russia launched its war …

Saudi Arabia tells U.S. that Iran is prepping attack on kingdom
2 years, 2 months ago

Saudi Arabia tells U.S. that Iran is prepping attack on kingdom

The Hindu  

Saudi Arabia has shared intelligence with American officials that suggests Iran could be preparing for an imminent attack on the kingdom, three U.S. officials confirmed on Tuesday. “We will not hesitate to act in the defense of our interests and partners in the region.” One of the officials who confirmed the intelligence sharing described it as a credible threat of …

Oil giant Saudi Aramco has $42.4B profit in third quarter
2 years, 2 months ago

Oil giant Saudi Aramco has $42.4B profit in third quarter

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco on Tuesday reported a $42.4 billion profit in the third quarter of this year, a 39% bump buoyed by the higher global energy prices that have filled the kingdom’s coffers but helped fuel inflation worldwide. The oil firm’s profits will help fund the kingdom’s assertive Crown Prince Mohammed bin Salman’s plans …

Saudis angrily say U.S. oil accusations are political, unfounded
2 years, 2 months ago

Saudis angrily say U.S. oil accusations are political, unfounded

LA Times  

The spat between the United States and Saudi Arabia and its fellow OPEC members over the management of petroleum supplies intensified Thursday when Riyadh accused Washington of “politicizing oil” and declared it would not submit to “dictates” from supposedly friendly countries. “The Kingdom affirms that outcomes of the OPEC+ meetings are adopted through consensus among member states, and that they …

Saudi oil giant Aramco’s first-quarter profits surge 80%
2 years, 7 months ago

Saudi oil giant Aramco’s first-quarter profits surge 80%

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and surging oil prices following Russia’s invasion of Ukraine. The bumper first-quarter earnings by the firm formally known as the Saudi Arabian …

Saudi oil chief says energy security imperiled by attacks
2 years, 9 months ago

Saudi oil chief says energy security imperiled by attacks

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s oil chief said markets are going through a “jittery period” and reiterated Tuesday that the kingdom’s ability to ensure energy security is no longer guaranteed. Prince Abdulaziz said Saudi Arabia and the United Arab Emirates could once rely on a collective effort to ensure their energy security. The prince spoke at the World …

Saudi Aramco’s Jeddah oil depot hit by Houthi attack
2 years, 9 months ago

Saudi Aramco’s Jeddah oil depot hit by Houthi attack

Al Jazeera  

Saudi Arabia announces ‘military operation’ in Yemen following series of drone and rocket attacks on the kingdom. Yemen’s Houthis rebels have acknowledged a series of attacks on Saudi Arabia after state media in the kingdom reported rocket and drone strikes targeting an oil depot in Jeddah and other facilities in Riyadh. The Saudi Motorsport Co, which promotes the race, acknowledged …

Satellite photos show Yemen rebels hit Saudi oil site again
2 years, 9 months ago

Satellite photos show Yemen rebels hit Saudi oil site again

Associated Press  

DUBAI, United Arab Emirates — Yemen’s Iran-backed Houthi rebels this week struck the same oil storage tank in the Saudi Arabian city of Jiddah they had previously hit a year and a half ago, satellite photos showed Tuesday. It also comes as Saudi Arabia issued an unusually stark warning that it is unable to guarantee its oil production won’t be …

Saudi Arabia says it’s not responsible for high oil prices
2 years, 9 months ago

Saudi Arabia says it’s not responsible for high oil prices

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia said Monday that it “won’t bear any responsibility” for a shortage in global oil supplies after a fierce barrage of attacks by Yemen’s Houthi rebels affected production in the kingdom, the world’s largest oil exporter. The salvo of rebel attacks on Saudi Arabia’s oil facilities marked a serious escalation in the war, which …

Yemen rebels launch barrage of strikes on Saudi sites
2 years, 9 months ago

Yemen rebels launch barrage of strikes on Saudi sites

Associated Press  

DUBAI, United Arab Emirates — Yemen’s Houthi rebels unleashed one of their most intense barrages of drone and missile strikes on Saudi Arabia’s critical energy facilities on Sunday, sparking a fire at one site and temporarily cutting oil production at another. The attacks did not cause casualties, the Saudi-led military coalition fighting in Yemen said, but struck sites belonging to …

Saudi Arabia says Yemen rebels target its energy facilities
2 years, 9 months ago

Saudi Arabia says Yemen rebels target its energy facilities

The Hindu  

Yemen’s Houthi rebels unleashed a barrage of drone and missile strikes on Saudi Arabia early Sunday that targeted a liquified natural gas plant, water desalination plant, oil facility and power station, Saudi state-run media reported. The attacks also came as Saudi Arabia's state-backed oil giant Aramco announced that its profits surged 124% in 2021 to $110 billion, a big jump …

Saudi oil refinery attacked by drone, sparking small fire
2 years, 9 months ago

Saudi oil refinery attacked by drone, sparking small fire

India TV News  

Highlights An oil refinery in Saudi Arabia’s capital Riyadh was attacked by drone It caused a small fire that did not cause injuries or affect supplies, said the energy ministry The statement did not specify where the drone strike was launched from An oil refinery in Saudi Arabia’s capital, Riyadh, was attacked by drone, causing a small fire that did …

Brent oil prices hit highest level in more than seven years as fears around COVID-19 ebb
2 years, 11 months ago

Brent oil prices hit highest level in more than seven years as fears around COVID-19 ebb

Firstpost  

The latest bump comes after Yemen’s Houthi rebels claimed attacks in Abu Dhabi that triggered a fuel tank blast, killing three people Monday Hong Kong, China: Brent crude prices hit their highest level in more than seven years on Tuesday on growing demand optimism, easing concerns about the Omicron COVID variant and geopolitical tensions. The contract hit $86.84 in Asian …

Saudi Aramco closes near $2T valuation as oil prices rally
3 years, 3 months ago

Saudi Aramco closes near $2T valuation as oil prices rally

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s oil company Aramco closed on Wednesday just shy of a $2 trillion valuation the kingdom’s crown prince has long sought, buoyed by high oil prices and increased demand for energy as economies recover from last year’s pandemic lockdowns. Aramco, which produces Saudi Arabia’s oil and gas, is closely watched by energy traders and …

Oil giant Saudi Aramco sees 2020 profits drop to $49 billion
3 years, 9 months ago

Oil giant Saudi Aramco sees 2020 profits drop to $49 billion

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia’s state-backed oil giant …

Saudi Arabia: Drones attack Riyadh oil facility, no damage
3 years, 9 months ago

Saudi Arabia: Drones attack Riyadh oil facility, no damage

Associated Press  

DUBAI, United Arab Emirates — A drone attack struck an oil installation in Saudi Arabia’s capital of Riyadh on Friday, the Saudi state-run news agency reported, igniting a blaze at the facility deep in the kingdom’s territory. Most recently, drones struck Ras Tanura, the country’s largest crude oil refinery with capacity of 550,000 barrels a day, raising concerns about the …

Fire at Saudi Arabia oil facility after drone attack
3 years, 9 months ago

Fire at Saudi Arabia oil facility after drone attack

Al Jazeera  

Saudi Arabia condemns attack, saying it targeted ‘the security and stability of the world’s energy supplies’. Saudi Arabia said drones struck an oil facility in the capital of Riyadh on Friday, igniting a fire at the installation. Saudi Arabia condemned the attack saying the assault targeted “the security and stability of the world’s energy supplies”. “We condemn the Houthis’ attempts …

Drone strikes on key Saudi Arabian oil facilities push crude oil prices over $70 per barrel
3 years, 10 months ago

Drone strikes on key Saudi Arabian oil facilities push crude oil prices over $70 per barrel

India TV News  

Oil prices rose Monday as Saudi Arabian oil facilities were targeted by drone strikes just days after the largest crude exporting nations in the world said they would not increase output. The attacks in Saudi Arabia follow a devastating winter freeze in Texas and other parts of the southern United States last month knocked out production of roughly 4 million …

Why oil makes Gulf countries vulnerable to Iran
4 years ago

Why oil makes Gulf countries vulnerable to Iran

Al Jazeera  

The brazen attack that led to the death of Iranian scientist Mohsen Fakhrizadeh has undoubtedly angered Tehran. Due to certain changes in the oil market and US foreign policy priorities, Arab countries in the Gulf find themselves in a more vulnerable position today. Up until a few years ago, the Iranian go-to retaliatory threat was closing the Strait of Hormuz …

Yemen rebels claim attack on Saudi oil facility in Jiddah
4 years, 1 month ago

Yemen rebels claim attack on Saudi oil facility in Jiddah

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors …

Saudis cut oil prices for Asia as virus clouds energy market
4 years, 2 months ago

Saudis cut oil prices for Asia as virus clouds energy market

Live Mint  

Saudi Arabia cut most oil pricing for its customers in Asia and the U.S. as a resurgence in the coronavirus clouds the outlook for energy markets. State producer Saudi Aramco decreased December pricing for shipments of Arab Light crude to Asia, its largest regional market, by 10 cents a barrel to a 50-cent discount to the benchmark. Oil dropped around …

Saudi Arabia’s financial woes mean it’s squeezing cash cow Saudi Aramco
4 years, 4 months ago

Saudi Arabia’s financial woes mean it’s squeezing cash cow Saudi Aramco

Live Mint  

The world’s biggest oil company is getting squeezed by its main shareholder, the Saudi Arabian government. “It will limit how much they can invest in things like maintaining the oil fields and developing new technologies.” Dividend Promise The government has previously leveraged Aramco’s balance sheet to bolster its own finances. Gearing could reach 30% by 2023 if crude prices remain …

Oil drops more than $1 after Saudi Arabia price cuts, demand optimism fades
4 years, 4 months ago

Oil drops more than $1 after Saudi Arabia price cuts, demand optimism fades

Live Mint  

Oil prices dropped more than $1 a barrel on Monday, hitting their lowest since July, after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic. The world remained awash with crude and fuel supplies despite OPEC+ supply cuts and government efforts to stimulate the …

Saudi Aramco Profits Slump 73% on Low Oil Price as Covid-19 Undercuts Global Demand
4 years, 5 months ago

Saudi Aramco Profits Slump 73% on Low Oil Price as Covid-19 Undercuts Global Demand

News 18  

Energy giant Saudi Aramco said Sunday its net profit for the second quarter plunged a massive 73 percent due to sharply lower oil prices as the coronavirus crisis undercuts global demand. Aramco's net profit for the first half of the year also dived, by 50 percent to $23.2 billion, compared to $46.9 billion over the same period last year. Following …

Saudi Aramco first-quarter profit falls 25%, below analyst estimates; hurt by lower crude oil prices as coronavirus slashed demand
4 years, 7 months ago

Saudi Aramco first-quarter profit falls 25%, below analyst estimates; hurt by lower crude oil prices as coronavirus slashed demand

Firstpost  

Saudi Arabian state oil giant Aramco on Tuesday reported a 25 percent fall in first-quarter net profit, below analyst estimates, hurt by lower crude oil prices as the coronavirus slashed demand Dubai: Saudi Arabian state oil giant Aramco on Tuesday reported a 25 percent fall in first-quarter net profit, below analyst estimates, hurt by lower crude oil prices as the …

Saudi Aramco’s profit fell 25% and that was before oil prices hit rock bottom
4 years, 7 months ago

Saudi Aramco’s profit fell 25% and that was before oil prices hit rock bottom

CNN  

London CNN Business — The world’s top oil producer said its profit plummeted during the first three months of 2020 — and that was before crude prices completed their spectacular crash. State oil giant Saudi Aramco said Tuesday that net profit for the quarter ending in March fell 25% to $16.7 billion, down from $22.2 billion during the same period …

Oil giant Saudi Aramco sees 2019 profits drop 20% to 88.2 Billion Dollars
4 years, 9 months ago

Oil giant Saudi Aramco sees 2019 profits drop 20% to 88.2 Billion Dollars

India TV News  

Oil giant Saudi Aramco said Sunday its profits dropped 20% in 2019 to $88.2 billion, a sharp decline coming as the kingdom stands ready to flood an already-weakened global energy market amid the new coronavirus pandemic. The announcement by the firm formally known as the Saudi Arabian Oil Co. did not address the kingdom’s plans to crank up production to …

Saudi Aramco profit falls 21% on lower oil, cuts 2020 capex guidance
4 years, 9 months ago

Saudi Aramco profit falls 21% on lower oil, cuts 2020 capex guidance

Live Mint  

Saudi Aramco, the spearhead of the kingdom’s oil price war, posted a 21% drop in full-year profit and cut planned 2020 capital expenditure. Key 2019 numbers: Net income including minority interests: 330.7 billion riyals vs 416.5 billion riyals a year ago Revenue: 1.11 trillion riyals vs 1.19 trillion riyals Analysts’ estimate: 1.2 trillion riyals Operating profit: 674.9 billion riyals vs …

Oil prices: Saudi doubles down on threat to flood market
4 years, 9 months ago

Oil prices: Saudi doubles down on threat to flood market

CNN  

London CNN Business — Oil prices are falling again Wednesday after Saudi Arabia doubled-down on its threat to flood the world with millions more barrels of crude despite the coronavirus shock to global energy demand. Just a day after confirming that it would jack up production by about 2.5 million barrels per day starting April 1 in a battle for …

Saudi Aramco says it will increase oil production capacity
4 years, 9 months ago

Saudi Aramco says it will increase oil production capacity

India Today  

Saudi Arabia's oil company Aramco said Wednesday it will increase production capacity to 13 million barrels per day, up from 12 million per day, part of a strategy to dominate market share amid a slowdown in demand due to the outbreak of a new virus. Saudi Arabia has been producing around 9.8 million barrels per day, carrying the bulk of …

Asian stocks plunge amid coronavirus scare, oil prices dive
4 years, 10 months ago

Asian stocks plunge amid coronavirus scare, oil prices dive

India Today  

Saudi Arabia slashed its official selling price for April for all its crude grades to all destinations, after OPEC’s oil supply cut pact with Russia fell apart on Friday, sending oil into a tailspin. It cut the April OSP of its Arab light crude oil to the United States to a discount of $3.75 per barrel versus ASCI, down $7 …

Saudis put on brave face as coronavirus roils oil markets
4 years, 10 months ago

Saudis put on brave face as coronavirus roils oil markets

Al Jazeera  

OPEC kingpin has yet to persuade Russia to agree to deeper output cuts to offset hit to oil demand from coronavirus. The coronavirus outbreak has been pressuring oil prices for weeks as Saudi Arabia-led OPEC and other oil producers try to gauge how the widening outbreak could affect global energy demand. Tuesday saw even more pain inflicted on crude, as …

Saudi Aramco reports increase in cyber attack attempts, foresees the trend will continue
4 years, 11 months ago

Saudi Aramco reports increase in cyber attack attempts, foresees the trend will continue

Firstpost  

The pattern of cyber attacks was cyclical and increasing in magnitude, said the oil giant’s IT security chief. Saudi Aramco has seen an increase in attempted cyberattacks since the final quarter of 2019, which the company has so far successfully countered, the state oil giant’s chief information security officer told Reuters on Thursday. Aramco, which pumps 10% of global oil …

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