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Saturday 14 September 2019 9:45 am  |  Updated:  Saturday 14 September 2019 12:47 pm

Saudi Arabia oil facilities engulfed in flames after drone attacks

By: Michael Searles

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Two major oil facilities in Saudi Arabia have burst into flames following drone attacks, state media reports.

Footage has emerged of flames and smoke engulfing Abqaiq, the site of state-owned company Aramco’s largest oil processing plant.

Read more: Opec faces daunting global oil surplus and nosediving prices in 2020

A separate attack also set alight an oilfield in Khurais, another Aramco facility.

Both fires are now under control, reports say.

Iran-aligned Houthi fighters in Yemen have taken responsibility for the attacks.

https://twitter.com/NewsBreaking/status/1172722388569444352

“At 04:00 (01:00 GMT), the industrial security teams of Aramco started dealing with fires at two of its facilities in Abqaiq and Khurais as a result of… drones,” the official Saudi Press Agency reported.

Read more

As it happened: FTSE 100 relief rally runs out of steam as BP and Shell weigh; Oil hits three-month low

Breaking news illustration with a newspaper, digital devices, and coffee cup on a desk, highlighting media consumption

“The two fires have been controlled.”

The Abqaiq facility is about 60km south-west of Dhahran in Saudi Arabia’s eastern province, while Khurais, home to the country’s second largest oilfield, is around 200km further south-west.

📹 | Explosions at the Aramco oil refinery in #SaudiArabia's Abqaiq caused a huge firehttps://t.co/2j9NcjRvDZ

— EHA News (@eha_news) September 14, 2019

Abqaiq produces around 7m barrels per day, while Khurais produces around 1.5m per day with reported reserves of more than 20bn barrels.

Read more: Oil and gas firm Cairn energy shares jump as it powers back to profit

There was no immediate effect on the price of oil as global markets had already closed for the weekend.

Aramco is currently preparing for an initial public offering in a bid to reduce the economy’s reliance on oil.

Read more

Shell shares slump after earnings rocket on oil surge

Shell CEO Wael Sawan in a boardroom setting, highlighting his reported £4.5m pay boost under new remuneration policy.

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