Title : It Will Be Months Before Repairs To The Saudi Oil Facilities Damaged In Last Week's Attacks Have Been Completed
link : It Will Be Months Before Repairs To The Saudi Oil Facilities Damaged In Last Week's Attacks Have Been Completed
It Will Be Months Before Repairs To The Saudi Oil Facilities Damaged In Last Week's Attacks Have Been Completed
A metal part of a damaged tank is seen at the damaged site of Saudi Aramco oil facility in Abqaiq Reuters
Business Insider: Repairs to the Saudi oil facilities after devastating attacks could reportedly take months
* The Saudi Arabian Oil Co.'s (Saudi Aramco) repairs to its facilities that suffered devastating attacks last week are in emergency mode, but it could still be months before they are fully operational, according to the Wall Street Journal.
* Saudi officials and oil contractors told the Journal that the estimate of 10 weeks that company executives have promised for a repairs timeline would be a fraction of the time it is now expected to take.
* The September 14 attack that knocked out half of the country's oil production and caused widespread concern for the kingdom and global markets.
Saudi Aramco's repairs on its oil facilities that suffered devastating attacks last week are in emergency mode, but could still take several months before they're fully operational again, according to the Wall Street Journal.
After the September 14 attack knocked out half of the country's oil production, Saudi officials and oil contractors told the Journal that the estimate of 10 weeks that company executives have promised for a repairs timeline would be a fraction of the time it is now expected to take.
One Saudi official said costs could run in the hundreds of millions of dollars as the country and oil company are still reeling from the attacks. Saudi Aramco was readying for its IPO, which was slated to be the largest in history.
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WNU Editor: Whoever planned this attack knew what he was doing.
Update: Analysis true .... Oil Set To Spike After Report Saudi Repairs At Abqaiq May Take "Up To Eight Months" (Zero Hedge).
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