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10/9, 10:30 AM (Source: TeleTrader)
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Aramco's CEO: Targets in repair could be topped

Saudi Arabian Oil Co.'s revenues won't be impacted despite last month's attack, which halved production of hydrocarbons, according to the monopoly's head Amin Nasser. He told the audience at the Oil and Money conference in London on Wednesday that not a single oil shipment was missed after what he said were 20 drones and missiles that struck the country's key facilities. The company also known as Aramco may beat the end-November deadline it set for the full recovery of maximum sustained capacity and there is a possibility that it even tops 12 million barrels per day, in the chief executive's view.

The perpetrators could be encouraged to conduct more attacks if the international community doesn't jointly respond, he warned, but also asserted that the incident "strengthened" the case for the planned initial public offering. The government-owned utility will start the process immediately if the decision makers in Riyadh decide so, Nasser said.

Breaking the News / IT