Indian company Reliance Industries owner and leading industrialist Mukesh Ambani was the richest man in Asia until yesterday, but what happened in one day that this crown disappeared from him? On Monday, Asia’s most common market share saw a sharp fall, and oil prices dropped significantly.
Sаudі Arаmсо hаѕ аnnоunсеd аn initial рublіс оffеrіng (IPO), wіth a рrісе rаngе of SAR 30-32 реr ѕhаrе ($8 to $8.50), giving рrіоrіtу to Sаudі іnvеѕtоrѕ. Aссоrdіng tо thе рrісе range, the vаluе оf thе wоrld’ѕ most рrоfіtаblе соmраnу rаngеd frоm $1.6 tо $1.7 trіllіоn. The соmраnу wіll аnnоunсе the final ѕhаrе price оn Dесеmbеr 5.
In his speech to the UN General Assembly, US President Donald Trump is expected to explain his policy towards Iran. At the same time, US Secretary of State Mike Pompeo has praised Western powers’ statements on the Saudi oil facility attack and has demanded Iran’s international condemnation. Iranian Foreign Minister Mohammad Javad Zarif has rejected talks with the United States.
British Prime Minister Boris Johnson has said that the Islamic Republic of Iran is responsible for the attack on Aramco. The United Kingdom is one of the countries participating in the US-led offshore Gulf security mission. According to the Associated Press, Prime Minister Johnson made his announcement and accusation on Sunday.
Saudi authorities said they were ready to take any necessary measures in response to an attack on its oil facilities. Riyadh continues to insist that Iran is responsible for last week’s attacks. The Saudi Ministry of Foreign Affairs said it had reviewed the preliminary results of the investigation after the attack on oil facilities, in which it claims Iranian-made weapons were used in the attack.
On Friday, US Department of Defense officials planned to present military options against Iran at a meeting with President Donald Trump. Last Saturday, Saudi Arabia’s oil facilities were attacked and severely damaged in two locations north of the country. The attack cut half of Saudi Arabia’s oil production and had an immediate impact on world oil prices. Although the Yemeni Houthi group claimed responsibility for the attacks, and said they carried out the simultaneous flight of ten UAVs, Saudi and US officials said the attack was carried out by Iran.
The Iranian Foreign Minister has wrarned that any attack on his country would be considered “all-out war,” after the US Secretary of State supported Saudi Arabia’s defense after the attack on Saudi oil facilities. Javad Zarif has said this after his US counterpart, Mike Pompeo, said that the attack on Saudi oil facilities was an act of war, that Iran’s actions were unbearable, and that the United States was following the recent attacks on Saudi Arabia’s crude oil facilities.
Saudi Arabia’s new ambassador to the UK has warned against hurrying to respond to Saturday’s attack on oil facilities in his country. Speaking to reporters, Prince Khalid bin Bandar Saud said the attacks were a blow to the world and their economy but warned that the Middle East could not afford more conflict.
Tensions in the Persian Gulf have increased following Saturday’s drone strike on Saudi Arabia, the United States’ closest ally in the region. Critics of President Donald Trump say he needs to work with his western allies to ease tensions in the Middle East.
Saturday’s attack on Saudi oil facilities has disrupted Saudi refinery production. Aramco is trying to make orders for its oil deliveries. Saudi Arabia is said to have been forced to buy low-sulfur diesel. The extent of the damage to the Saudi oil facilities is still unclear. Some experts believe it could take several months to rebuild and repair the damage caused by the attack on the refinery. The question in the global energy markets is currently about Saudi Arabia’s ability to carry out oil orders and refinery products.
US Secretary of Energy Rick Perry accused Iran of involvement in a drone attack on Saudi oil facilities at the International Atomic Energy Agency’s annual meeting in Vienna. He called the attacks “an attack on the global economy and the global energy market.”
Oil prices rose at the beginning of this week, on the back of the attack on Saudi Aramco facilities. Brent crude futures reached $71.95 a barrel, the largest percentage gain since the start of the Gulf War in 1991. Saturday’s attacks stopped production equivalent to 5% of global oil supplies.
Though President Trump did not openly state whom he believes is the perpetrator of the heinous attack on the Saudi Arabia oil plants, his top diplomat, Mike Pompeo, has since Saturday asserted that the attack was carried out from Iran, and not Yemen, as the world was initially made to believe. Trump tweeted Sunday he was “locked and loaded depending on verification.”
Saudi Arabia cut oil and gas production following drone strikes on its two main oil facilities, which are run by state-owned company Saudi Aramco. Energy Minister Prince Abdulaziz bin Salman said the attack had reduced crude oil production by 5.7 million barrels per day— about half of royal production.
Iranian Revolutionary Guard Commander Amir Ali Hajizadeh has said that US bases and aircraft carriers are within Iran’s missile range. This was in reaction to Washington accusing Iran of carrying out a drone attack on a Saudi Aramco oil plant.
Saudi Arabia’s state-run media reports that the country’s largest oil company, Aramco, has caught fire after drone strikes in two major oil installations. Another drone strike also set fire to the Khurais oil field on the west side. However, the Saudi Press Agency says the fire has now been controlled in both installations.