[ad_1]
The weekend attacks against major oil infrastructure in Saudi Arabia have worried investors as the Kingdom had just accelerated the plan to register Saudi Aramco in the biggest public call to the world. savings never realized.
Despite the world-class assets and the fact that Saudi Aramco pumped just under 10 million bpd ahead of the attacks – more than the four listed global oil companies combined – financial analysts and investors are telling Bloomberg that the The company's valuation may not fully take into account for major supply disruptions such as the current one.
"These are the best assets in the world, but I have no interest in owning Aramco because of the security risks," Ben Bloomy, general manager of Tribeca Investment Partners Pty, told Bloomberg. Persian Gulf and the risks of attacks on critical Saudi oil infrastructure would not go away anytime soon.
On Saturday, Abqaiq and the Khurais oil field in Saudi Arabia were attacked, resulting in the suspension of more than half of the country's oil production.
The terrorist attacks with the help of projectiles have resulted in a suspension of production of 5.7 million barrels of crude oil per day, Saudi Aramco said Saturday, confirming the loss of more than half of the oil production of the Kingdom.
Oil prices climbed on Monday after the markets reopened following the attacks, while analysts believe the price movement in the coming days will be determined by the speed and importance of Aramco's recoverable oil production. .
According to analysts, the longer Aramco needs to restore crude oil production, the higher the price of oil will be optimistic. Ironically, Saudi Arabia needs about $ 80 a barrel of Brent Brut to rebalance its budget and a price of oil high enough to get as high a valuation as possible from Aramco when it goes public.
By Tsvetana Paraskova for Oilprice.com
More from Reading Oilprice.com:
[ad_2]
Source link