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SOURCE: English
Al-Arabiya's envoy to Dammam, Fatima Al-Dawi, said the Abqaiq refinery is one of the largest in the world and plays a major role in the market and the oil sector.
The refinery is the largest oil processing plant in the world. It produces 5% of world production at 100 million barrels and processes between 6 and 7 million barrels for export via three Ras Tanura (Bahrain) pipelines and comes from gas and crude oil.
Damage size
She added during a visit to "the Arab" near the refinery "Abqaiq", that what will be revealed by the press conference of the Ministry of Energy will determine the magnitude damage to the refinery and the time required to remedy the damage caused by the attack.
"Aramco used maintenance and infrastructure companies, which are reservoirs and pipelines, and asked companies providing technologies, processors, turbines and basic infrastructure to remain on standby if they were to inspecting the refineries later, which gives a guarantee in the market that Aramco is tackling the major damage caused by the attacks.
"This suggests that reservoirs and pipelines have been damaged and damaged, and not the infrastructure used for treatment plants, technology and turbines at Abqaiq. they have not suffered any damage because Aramco has not yet called them on the ground, This indicates that everything is under Aramco's control and that this is a delay for this facility is fully operational and we look forward to hearing more about it at the Saudi Minister of Energy's press conference.
"The conference should tell us at 8 am the KSA of the extent of the damage and the time limit to contain this problem, as this sets a precedent in the history of Saudi Arabia that would be affected by an installation of this magnitude. "
Erasing fears
Oil prices fell on Tuesday, although the market remains concerned about the threat of a military response to attacks on two Saudi oil facilities, which halved the kingdom's production and led to the biggest price hike ever since. decades.
Saturday's attack hinted at the prospect of a major upswing in the market supply that, in recent months, has focused on demand-related concerns due to the slowdown in global growth as a result of the US-China trade dispute. Saudi Arabia is the largest exporter of oil in the world.
A barrel of Brent crude fell 30 cents, or 0.4%, to $ 68.72 a barrel, while a barrel of intermediate crude in the western United States to Texas was down 57 cents or 0.9% at $ 62.33 per barrel. Previously, both benchmarks dropped by about 2% each.
Oil prices rose nearly 20% during the Monday session in reaction to the attacks, the biggest rise in nearly 30 years, before closing at nearly 15% to their highest level in four months.
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