Saudi Arabia Pledges to Supply Oil Despite Attacks on Riyadh — The National

Saudi Arabia said it would continue supplying oil to domestic and international customers despite a series of attacks on Riyadh. The National reports.

Minister’s statement

Saudi Energy Minister Prince Abdulaziz bin Salman said at a ministerial meeting of the International Energy Forum that the kingdom would supply oil regardless of the circumstances. At the opening of the WPC Energy Congress on October 12, he noted that the oil industry’s resilience had been ensured by years of investment in storage facilities, spare capacity and alternative export routes.

According to him, the rapid restoration of infrastructure after disruptions requires not only technical systems but also specialists. High-level energy meetings are taking place in Riyadh this week despite security risks, including the WPC Energy Congress, which the country is hosting for the first time.

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Airport and pipeline

King Khalid International Airport in Riyadh was hit four times in five days. According to Saudi authorities, a missile attack on Saturday killed 12 people and injured 309, while another strike on Sunday evening killed one person and injured 11. The Saudi-led coalition in Yemen blamed the Houthis, whom it described as backed by Iran, for Saturday’s attack.

In September, Houthi attacks disrupted operations of the East-West pipeline, which transports oil from eastern fields to the Red Sea port of Yanbu, bypassing the Strait of Hormuz. As of October 6, transport volumes had recovered to about 5.8 million barrels per day, compared with a capacity of around 7 million barrels.

Amid attacks on Riyadh and strikes on two tankers near the Strait of Hormuz and Oman, Brent crude was holding near $104 per barrel on October 12.