A refinery in Saudi Arabia's capital, Riyadh, was attacked by a drone on Thursday morning but petroleum supplies were not affected, reported Reuters with reference to Saudi state news agency SPA.
The attack caused a small fire that was controlled and did not result in any injuries or casualties, SPA said citing a statement by an energy ministry official.
"The refinery's operations and supplies of petroleum and its derivatives were not affected," the statement said.
It did not specify where the attack originated from.
The world's top oil exporter has faced frequent missile and drone assaults by Yemen's Iran-aligned Houthi group that has been battling a coalition led by Riyadh for seven years.
The Houthis have not announced any strikes against the kingdom in recent days and the Saudi-led coalition had not issued a statement regarding Thursday's incident.
"These repeated acts of sabotage and terrorism on vital installations and civilian structures ... do not just target the Kingdom but aim to undermine the security and stability of global energy supplies," the statement said.
As MRC wrote before, Saudi Aramco CEO Amin Nasser said the “tragic situation unfolding in Ukraine is making the global energy crisis worse”. Nasser, speaking at CERAWeek in Houston, echoed other energy executives in saying that the crisis exposes the mixed signals delivered by policymakers to the oil-and-gas industry amid the energy transition.
We remind that in June 2020, Aramco finalized its USD69 billion acquisition of a 70% stake in Saudi Basic Industries Corp., the Middle East's biggest petrochemical maker. SABIC reported more than a fivefold year-on-year increase in its Q3 net profit to USD1.49 billion thanks to higher average sales prices.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,487,450 tonnes in 2021, up by 13% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market totalled 1,494.280 tonnes, up by 21% year on year. Deliveries of homopolymer PP and PP block copolymers increased, whreas.shipments of PP random copolymers decreased significantly.
Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national oil and natural gas company based in Dhahran, Saudi Arabia. Saudi Aramco's value has been estimated at up to USD10 trillion in the Financial Times, making it the world"s most valuable company. Saudi Aramco has both the largest proven crude oil reserves, at more than 260 billion barrels, and largest daily oil production.
MRC