Singapore condemns attacks on Saudi Arabia oil facilities

19-Sep-2019 Intellasia | CNA | 6:02 AM Print This Post

Singapore on Tuesday (Sep 17) condemned the attacks on two Saudi Arabia oil plants, which included the world’s biggest petroleum processing facility.

On Saturday, a wave of drones struck oil producer Saudi Aramco’s facilities in Abqaiq and Khurais. The attacks halved the kingdom’s output and prompted a price hike not seen in decades.

s”Singapore condemns the attacks on Saudi Aramco’s facilities in Abqaiq and Khurais in the Kingdom of Saudi Arabia on Sep 14, 2019,” said the Ministry of Foreign Affairs (MFA) in a statement.

“These attacks threaten regional stability and global energy security,” added the ministry.

Oil prices initially surged more than 20 per cent after the open on Sunday evening, with Brent crude posting its biggest intraday gain since the 1990-1991 Gulf crisis.

It later pulled back as various nations announced that they would tap emergency supplies to keep the world supplied with oil.

While Tehran-backed Yemeni rebels claimed responsibility for the pre-dawn strike on Saturday, Washington blamed Iran for what it called an “unprecedented attack on the world’s energy supply”.

Saudi Arabia is the world’s biggest oil exporter and the attack on state-owned Saudi Aramco has cut output by 5.7 million barrels per day (bpd) or 6 per cent of global production.

Riyadh pumps about 9.9 million bpd of which around 7.0 million bpd are exported, mostly to Asian markets.


Category: Singapore

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