Several Asian refiners to get full Saudi oil supplies in November

Several Asian refiners to get full Saudi oil supplies in November

Big Oil and the biggest and yet-to-be-listed oil company in the world Saudi Aramco have updated their dividend plans in recent months in an indication that they consider they will increase returns to shareholders even when nobody is sure where oil costs can be a month, a quarter, or a year from now.

The crown prince has indicated that he wants a valuation of $2 trillion, though analysts and Aramco officials have valued Aramco at closer to $1.5 trillion.

"Although oil production was restored fully by end-September, we believe that there is a risk of further attacks on Saudi Arabia, which could result in economic damage", Fitch said, explaining that move at the time.

Coordinated strikes on major Saudi Arabian oil facilities, among the world's largest and most vital energy production centers, have destroyed about half of the kingdom's oil capacity, or 5% of the daily global oil reserve.

The CEO of the world's largest oil company expressed his concern over an "absence of worldwide resolve" against the perpetrators of September 14 drone and missile attacks on Aramco facilities that forced the company to shut down half of its production and sent crude prices up almost 20%.

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Yemen's Houthi revolutionary on Saturday took in charge of the attacks, saying 10 drones aimed state-owned Saudi Aramco oil provision in Abqaiq and Khurais, as claimed by the Houthi-run Al-Masirah news agency.

Saudi Arabia has maintained supplies to customers at levels seen before the attacks by drawing from its huge oil inventories and offering crude grades from other fields.

Meanwhile, Riyadh is planning to launch Aramco's initial public offering (IPO) later this year in a move to draw in foreign capital and shift the Saudi economy away from oil.

Aramco is reportedly set to release its IPO prospectus in Arabic as early as October 25, with an English version provided two day later, sources told the Wall Street Journal.

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