MUSCAT: The Sultanate of Oman expressed its deep regret over the attacks on oil facilities at Abqaiq and Khurais in Saudi Arabia, considering that as pointless escalation, according to the statement issued by the Foreign Ministry on Monday. The Sultanate urged Martin Griffiths, United Nations (UN) Special Envoy to Yemen, to bring the warring parties in Yemen together to the negotiations table to end the conflict. The Sultanate also expressed its readiness to help achieve peace in Yemen.
Meanwhile, Saudi authorities are considering whether to delay an IPO for oil giant Aramco after last weekend’s attack on its oil facilities shut down much of its production, people with knowledge of the matter said. “They’re in the process of assessing the damage. It’s a possibility but it’s still very early,” said one of the persons who spoke on condition of anonymity. Aramco had planned to debut in November on a local stock market before listing on an international one next year, sources had said last week. The IPO could be the largest ever, with the company’s valuation poised to top $1 trillion.
The company’s plans appeared to have accelerated in recent weeks after it chose JPMorgan to lead the initial public offering, sources said. Goldman Sachs and Bank of America among others are also among the banks involved. The IPO is part of Riyadh’s efforts to diversify its economy away from petroleum. The attack shut down about half of Saudi production, or some five per cent of global production, according to Craig Erlam of currency trader Oanda. No one was injured during the attacks but it remained unclear how soon Saudi Arabia could bring its production capacity back to normal. — Agencies
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