• 4 minutes China goes against US natural gas
  • 12 minutes WTI @ 67.50, charts show $62.50 next
  • 15 minutes Saudi Fund Wants to Take Tesla Private?
  • 51 mins Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 56 mins Peak Oil is Now!
  • 5 hours Rattling With Weapons: Iran Must Develop Military To Guard Against Other Powers
  • 7 hours Russians hacking vs U.S., Microsoft President: Russians Targeting All Political Sides
  • 3 hours Corporations Are Buying More Renewables Than Ever
  • 13 hours VW Receives Massive Order Of 1,600 All-Electric Trucks
  • 21 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 1 day CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 1 day The EU Loses The Principles On Which It Was Built
  • 1 day Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 18 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 1 day The Discount Airline Model Is Coming for Europe’s Railways
  • 1 day Starvation, horror in Venezuela
Alt Text

Trump vs Iran: A War Of Words

As U.S. sanctions on Iran…

Alt Text

Iran Threatens To Restart Nuclear Enrichment Program

Iran is threatening to restart…

Alt Text

Could This Be The Next Proxy War In The Middle East?

RBC’s Helima Croft told CNBC…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Trending Discussions

Saudi Arabia Thwarts Attempted Attack On Aramco Facility

oil flaring

It seems the violence in Yemen may be spilling over into Saudi Arabia. On Wednesday, the KSA’s state-run media agency reported an attempted attack on an oil product distribution center in a province bordering the Kingdom’s war-torn southern neighbor.

The press agency cited an unidentified spokesperson from the Interior Ministry who said security forces spotted a remote-controlled boat full of explosives leave a Yemeni island and head towards Saudi’s coast.

The countries defense forces will protect Saudi citizens and oil infrastructure from Shi’ite Houthi rebels’ attacks on shipping routes in the Red Sea, the ministry added. No group has claimed responsibility for the failed attack so far.

Yemen’s oil facilities have also been under attack in recent weeks from local residents. Twelve people died and 29 others were injured from an oil pipeline fire in the Bajel district of Yemen in early April, according to a security official.

After being hit with a “sabotage act,” the pipeline began leaking oil. Citizens from the area began gathering the crude oil, with one Yemeni attaching a generator near the leak to speed up the rate of the leakage. The electric current from the device caused a spark, setting the oil on fire. Related: Top 5 Risks To Oil Prices

The Red Sea port, near the Bab al-Mandab strait, is currently controlled by the Houthis, and whoever maintains control of it has a strategic advantage. This port is a pathway connection to the Middle East (where the world’s largest proven oil reserves are) and Sub-Saharan Africa (a region expected to see a four-fold increase in energy demand by 2040), making it a coveted geopolitical prize for regional powers, but a livelihood-destroying burden for Yemen’s residents.

Roughly one year before the civil war began, Yemen’s oil production topped 127,000 barrels per day, but hostilities have forced the exit of virtually all international producers due to security concerns. Existing fields are close to maturity, and in the absence of new oil discoveries, the country’s crude reserves would be exhausted in less than a decade.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News