International expert: Aramco’s real strength emerged from the effectiveness of its management of the crisis

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Saudi measures taken by Riyadh over the recent plots in Abqaiq and Khurais have boosted global markets’ confidence in Saudi oil giant Aramco and deepened its ability to contain the crises that arise in such cases, according to strategists.

“Aramco has achieved a number of targets in the wake of the Iranian attack that has really emerged. The first target is the time when oil officials react, from drones and cruise missiles,” said Theodore Karasik, a Gulf expert from Washington. Al-Sharq Al-Awsat Newspaper.

According to Karasik, Aramco has shown the ability to respond to such a crisis quickly. In addition, the company was able to release information in a calm and reassuring way, for investors and observers to see.

“In this sense, Aramco’s crisis management was very effective and demonstrated the strength of the company in the aftermath of the attacks. The company was also keen to reach all its customers to keep them informed of any changes in the delivery number. Of creating stimulation as they progress to IPO. “

Russian strategist Andrei Ontykov said in a telephone interview from Moscow: “I do not rule out that we will see some tension in the global energy markets, because of the recent attack on two Aramco facilities, but I expect it to be a short-term tension with limited impact.” .

Response speed
The Russian strategic analyst was optimistic about the positive statements of a number of Saudi officials, noting that they stressed that the Kingdom will make every effort to bring the production process back to normal and to the levels it was before the attack.

Ontikov pointed out that the Saudi authorities, when they announced the suspension of production of oil, at the same time confirmed that this will be temporary, regardless of the damage caused by the attack at Aramco facilities, and ratified the re-production later.

Ontikov stressed that Saudi Arabia is a pivotal responsible country and a major international player in the international arena at all levels, especially in the global oil market, pointing out that the Kingdom is able to exert efforts to restore order and restore oil production to normal levels. That it was before the attack.

Ontikov believes that Saudi Arabia will find moral support from other countries in the world, considering that everyone is interested in the stability of global oil prices, likely that this tension is minimal in a short impact with limited impact can be quickly contained.

Flexible and ready
Amin al-Nasser, president and chief executive officer of Saudi Aramco, said in a letter to Saudi Aramco employees yesterday that after the attacks on its oil plants in Abqaiq and Khurais on September 14, “Aramco has become stronger than before.” The September 14 attacks on the Abqaiq and Khurais facilities, one of the kingdom’s largest oil processing plants, caused major fires and serious damage, halving the production of the world’s largest oil exporter by halting 5.7 million barrels per day of its exports. .

“There is no doubt that the aggressors wanted to see us as destabilized, but by the grace of Allah these attacks were aimed at hitting the world economy and destabilizing the Saudi oil industry,” he said. “During the destruction of Saudi Aramco’s structure, the aggressors had a positive impact that the aggressors did not count.”

“Our dear country, including some 70,000 employees, has become stronger than our enemies wanted,” he said. Al-Nasser pointed to the impact of the rapid action to contain the fires and the start of repairs, and said that it led to reduce the impact of attacks on the oil market and the global economy.