HOUSTON (Reuters) – Saudi Arabia’s oil production and exports have been disrupted by drone attacks on two major oil facilities run by state-owned company Aramco, including the world’s biggest petroleum processing facility. Two sources close to the matter said 5 million barrels per day of crude production had been impacted — close to half of the kingdom’s output or 5% of global oil supply. The pre-dawn drone attack by Yemen’s Iran-aligned Houthi group set off several fires, although the kingdom, the world’s largest oil exporter, later said these were brought under control. State television said exports were continuing, however Aramco has yet to comment since the assault. The authorities have not said whether oil production or exports were affected. Here are key facts about the historically secretive oil company, including details released this year of its finances and operations.
Aramco, the world’s biggest oil company, had in 2017 liquids reserves of 260.2 billion barrels of oil equivalent, which are larger than the combined reserves of Exxon Mobil Corp (XOM.N), Chevron Corp (CVX.N), Royal Dutch Shell Plc (RDSa.L), BP Plc (BP.L) and Total SA (TOTF.PA), and which have an estimated reserve life of 54 years.
The company produced 10.3 million barrels per day (bpd) of crude last year, touting the lowest cost in the world to produce crude, at $2.8 a barrel, according company documents. It also produced 1.1 million barrels of natural gas liquids and 8.9 billion standard cubic feet per day of natural gas. Almost three-quarters of Aramco’s crude exports, about 5.2 million bpd, were delivered to customers in Asia last year, where it believes demand will grow faster than elsewhere in the world. Its Asian buyers include China, India, South Korea, Japan and Taiwan. Its crude deliveries to North America reached more than 1 million bpd last year; to Europe, 864,000 bpd. The company produces, refines and exports oil from Saudi Arabia, but has refining operations across the globe. Aramco’s U.S. oil refining subsidiary Motiva Enterprises [MOTIV.UL] owns the 607,000 barrel-per-day Port Arthur, Texas, refinery, the largest in the United States and in 2017 announced plans for $18 billion in investments in its operations in the Americas over five years. Aramco is also expanding its oil refining and downstream capacity in the region, particularly in rapidly growing countries such as China and India. Aramco in 2018 had a net refining capacity of 3.1 million barrels per day. With 76,000 employees in 2018, Aramco has energy industry operations, research facilities and offices scattered across the globe, in Asia, Europe and the Americas. It has country offices in Beijing, New Delhi, Singapore, New York, London, Houston and elsewhere. Nick Bit: Like i have been telling you this is the biggest wealthiest entities the most profitable company in WORLD HISTORY. AND AND AND their is no replacement for the oil they provide the world. DO NOT BUY INTO THE GREAT USA OIL FRACKING MYTH. US oil production is peeking as we speak. A S can’t use ad exports at a LOSS! Fracked well do not even pay for themselves… they are living on stupid ass pension funds loans that WILL NEVER BE PAID BACK. And another myth Global oil demand is NOT NOT NOT declining. US China trade war is off because YOUR art of the deal bullshitter like ALL bullshitters cannot put a trade deal together. He is WAY WAY out of his league. Laundering money through a small sleazy real estate company constantly going broke does NOT NOT come close to qualifying one for the white house. Watch,,, this will end VERY VERY badly!!! AND AND as we have been warning you the Middle East is at war. AND AND AND AND AND the worlds MAIN oil supplier cannot defend itself against their blood enemy Iran. And up to and until the world NUKES the shit out of IRAN world oil supplies are in constant and grave danger of disruption AND AND AND contrary to the blue sky they want to blow up your ass the US is NOT NOT NOT energy self sufficient. You are going to learn a bitter lesson.. When they talk shit and you believe the lies… When the shit hits the fan ALL THE BULLSHIT you want to believe and they spoon feed you blows up in your face. I got my LPG GAS, DIESEL, GASOLINE AND SOLAR READY TO GO…. Enough for 2 years… AND YOU? I know you can rely on the HA HA HA HA FEMA and First Responders… Ask the people in New Orleans and Florida and Texas and Puerto Rico how that SHIT worked out…… Enjoy the fantasy while it lasts.