Saudi oil production to be fully restored by end of September: energy minister

9/19/2019 - 8:36:51 AM

Saudi Arabia's Energy Minister Abdulaziz bin Salman Al Saud said Tuesday (September 17) that Saudi oil production, suspended earlier due to attacks on two major Aramco facilities, would be fully restored by the end of September.

Saudi Energy minister Prince Abdulaziz bin Salman Saudi Arabia would keep its role as the secure supplier of global oil markets.

Speaking to the media in Jeddah during a news conference, Abdulaziz said that Saudi Arabia will maintain full oil supply to its customers this month, adding that the Kingdom had dipped into its stored reserves to ensure supply continues as normal, while oil production capacity will rebound to 11 million barrels per day (bpd) by the end of September.

Saudi Aramco CEO Amin Nasser said at the conference that it took the company less than seven hours to extinguish the fires after the attacks at Abqaiq and Khurais.

During the news conference, it was disclosed that production at Khurais resumed 24 hours after the attack. Meanwhile, Nasser stated that production at Abqaiq is currently 2 million barrels per day and its entire output is expected to be restored to prior rates by the end of September.

"We have a hard-earned reputation for nearly 100 percent reliability in terms of meeting our international customers' requirements and we have defended that," Nasser told the media.

Aramco adjusted deliveries and shipments to customers by drawing on inventories and offering additional crude production from other fields.

"Not a single shipment to an international customer has been or will be missed or canceled as a result of these attacks. We have proven that we are operationally resilient and have confirmed our reputation as the world's leading supplier," Nasser added.

Source: NDO

Optimistic signals of the world economy

The world economy has overcome a challenging year, but has proven more resilient than expected. The Financial Times (UK) commented that 2023 was a positive year for the world economy as the economic surprise index collated by Citigroup shew that actual data have underwhelmed economists’ predictions for much of the past months. These economic trends are the basis for optimism about the world economy in 2024.

Laos announces theme, logo of ASEAN Chairmanship 2024

Laos has announced the theme and logo for its the Chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2024.

Vietnam elected Vice President of UNESCO General Conference

Vietnam was elected a Vice President of the 42nd session of the UNESCO’s General Conference, representing the Asia-Pacific, on November 8.

Safe and responsible use of AI promoted

Since the "blockbuster" ChatGPT was launched a year ago, the prospects for the development of artificial intelligence (AI), as well as concerns about the risks from this technology, have become hot topics in the technology world.

Successfully completing the training program to improve the capacity of implementing the Government’s policy in Korea

(HBO) - From September 12 - 23, in Seoul, South Korea, the Korea International Cooperation Agency (KOICA) organized a training program under the project "Supporting the Academy of Journalism and Communication to improve the the capacity of implementing the Govermmment’s policy” in phase 2 with the coordination and the coordination of Hyundai Research Institute (HRI).

KOICA fellowship programme 2023 opens in Republic of Korea

(HBO) – The Korea International Cooperation Agency (KOICA) opened a fellowship programme in Seoul on September 13 under Phase 2 of a project that helps Vietnam’s Academy of Journalism and Communication (AJC) enhance its capacity of implementing government policies.