Iran Update - Sept 27

[dan_s]

My "spies" in the Middle East tell me that Iran is planning an attack on UAE. Iran is really pissed over Saudi Arabia's attack on Yemen this week.

[dan_s]

Saudi Arabia insists on Abqaiq timeline, but analysts remain skeptical. Saudi Aramco has promised to restore production at the Abqaiq and Khurais facilities by Monday, but oil traders are not so sure. “I would like to see real evidence that they are going to resume [production] in the coming weeks,” a Middle East oil company official, told S&P Global Platts. Middle East-based petroleum engineer Einstein Millan Arcia added: “I seriously doubt Saudi Aramco's capability to recommission such facilities [by September 30] considering the depth of the damage and all the associated testing protocol needed prior to restart.” < Production "capacity" and "exports" at totally different.

Aramco accelerates IPO preparations. After some reports suggested that Saudi officials were considering delaying the IPO of Aramco, it now appears that the government is pressing forward and even accelerating the effort. The offering could come as soon as November.

Saudi exports plunge. Despite assurances that there would be little interruption in exports, a report from Petro-Logistics, reported on by Reuters, estimates that Saudi oil exports averaged 5.875 mb/d in the 10 days after the Abqaiq attack, down 1.494 mb/d from prior.

[dan_s]

Venezuela production falls. Venezuela’s Orinoco Belt saw production fall to 246,000 bpd on Tuesday, down from 370,000 bpd from earlier in the month, according to Platts. Lack of tankers and depleted storage has forced production curtailments.

[dan_s]

The U.S. military said Friday it had killed 17 Islamic State (ISIS) fighters in an airstrike Thursday outside Murzuq in southwest Libya.

The airstrike was the third announced by U.S. Africa Command (AFRICOM) in eight days. Prior to last week, the U.S. military had not hit any targets in Libya since Nov. 29, 2018.

https://www.aljazeera.com/news/2019/09/ ... 47283.html