Snapshots

Saudi Arabia: More Information About Damage at Oil Processing Complexes Emerges

Sep 20, 2019 | 20:30 GMT

Saudi Arabia has finally started to allow media to visit the Abqaiq and Khurais processing complexes that were attacked earlier this week, taking 5.7 million barrels per day (bpd) of production offline. This has allowed more photos of damage and more details about the current status of the facilities to emerge. Earlier in the week, Saudi Arabia painted a rosy picture of how quickly it could get its oil production capacity back online, saying it could restore 11 million bpd of processing capacity by the end of September and 12 million bpd by the end of November. Saudi Arabia was almost certainly going to be overly optimistic in its timetable for bringing full production capacity back online at the two damaged facilities, as it wants to ease market concerns that it won't be able to meet export obligations.  After all, Saudi Arabia is already reportedly reducing domestic refinery throughput and looking...

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