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Al Rajhi Capital revealed the expected impact of the attack on Saudi Aramco.
Al-Rajhi Capital, a Riyadh-based financial services company, has released a report showing the expected impact of a shortage of raw materials for Saudi petrochemical companies, following attacks on two Aramco factories in Abqaiq and Khurais.
According to the website of the channel "Saudi Arabia", said "Al Rajhi Financial" that the lack of supply of certain raw materials for Saudi petrochemical companies after the terrorist attacks will have a short-term impact on Saudi Arabian companies. petrochemicals.
Al-Rajhi expects petrochemical companies to work at low production rates in the coming days, which will affect the level of production by 5% in the third quarter of this year.
SABIC's third quarter earnings will be affected by 235 million SAR at 2,058 million, SAR at 18 million at 226 million and 30 million SAFCO at 411 million.
The report also predicted that Tasnee's data would be affected by 20 million SAR to achieve a loss of 40 million SAR by the end of the third quarter of 2019, while Yansab's profits would fall from 30 million to 295 million NAS. , while Kayan would suffer a loss of SAR 34 million to achieve a loss of 168 million SAR. In the same quarter, the "advanced" profits of 20 million riyals to 175 million riyals.
Large companies such as SABIC are able to redistribute their available raw materials within their subsidiaries, while the high profit margins of their products, such as Yansab, Safco and Advanced, will be the least affected compared to those with margins low beneficiaries.
Two sources close to Saudi Aramco's operations said on Monday that the company's full return to "normal" oil production could take months.
The source pointed out that the attacks on oil facilities had reduced the Kingdom's production by more than half and said: "The situation is still bad."
An oil sector source familiar with the latest developments, told Reuters that Saudi Arabia's crude oil exports would continue as usual this week, with the Kingdom using stockpiled stockpiles in its large storage facilities. Long.
The group "Ansar Allah" announced Saturday the launch of 10 drones in the Abqaiq and Khurais oil fields in eastern Saudi Arabia. He promised to extend the scope of the attacks in the Saudi depths.
Abqaiq is located 60 km southwest of Dhahran, in eastern Saudi Arabia. Abqaiq is home to the largest oil refinery in the world.
Ansar Allah (Houthis) claimed Saturday the drone attack of two oil facilities owned by Saudi oil giant Aramco in Abqaiq and Hijrat Khurais, in eastern Saudi Arabia.
US Secretary of State Mike Pompeo accused Iran of attacking two oil refineries in Saudi Arabia, excluding attacks from Yemen.
Abqaiq, located about 75 km south of Dammam, in the Eastern Province, is an important city in the region, given the main activity of Aramco and one of the most major oil refineries in the world.
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