Saudi Races To Restore Oil Supply After Strike Blamed On Iran.
Smoke billows from an Aramco oil facility in Abqaiq about 60km southwest of Dhahran in Saudi Arabia’s eastern province on September 14, 2019. /AFPSaudi Arabia raced on Sunday to restart operations at oil plants hit by drone attacks which slashed its production by half, as Iran dismissed US claims it was behind the assault.
That drew an angry response from Tehran, where foreign ministry spokesman Abbas Mousavi said: “Such fruitless and blind accusations and remarks are incomprehensible and meaningless.” “The Saudis do not want an open conflict with Iran. The Saudis would like others to fight that war, and the others are reluctant,” said Dorsey, from the S. Rajaratnam School of International Studies in Singapore.Instead, the kingdom focused on restoring production at the plants, as the Saudi bourse slumped three percent as the week’s trading began on Sunday morning.
The government hopes to raise up to $100 billion based on a $2 trillion valuation of the company in what would be the world’s largest IPO, but the listing has been repeatedly delayed due to low oil prices, among other factors.
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