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02.03.26 - 15:36
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Oil Shock Risk: Biggest Saudi Refinery Halts Operations After Drone Strike (ZeroHedge)
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Oil Shock Risk: Biggest Saudi Refinery Halts Operations After Drone Strike
A drone strike forced Saudi Aramco to suspend operations at its Ras Tanura complex while damage assessments are underway on Monday, reviving a 2024 warning we issued that any successful Iranian or Iran-backed militia strike on critical Saudi refining infrastructure could trigger a global oil shock and, in a more severe scenario, set the stage for a broader financial crisis (reminder credit markets are already cracking).
Sources familiar with the drone attack on the Ras Tanura complex told Bloomberg News that Saudi Arabia's largest oil refinery "came under attack by a drone" and "halted operations as a precaution while it assesses damage."
Footage of the aftermath of the drone strike on the Ras Tanura complex was published on X.
JUST IN: ?? Iran strikes Saudi Arabia's Aramco Ras Tanura oil refinery. pic.twitter.com/eTmPGRFAY5
— BRICS News (@BRICSinfo) March 2, 2026
Saudi Arabia released a ...
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21.02.26 - 03:15
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India Boosts Saudi Oil Imports, Slows Russian Buying, Amid US Pressure (ZeroHedge)
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India Boosts Saudi Oil Imports, Slows Russian Buying, Amid US Pressure
Via The Cradle
Saudi crude shipments to India are set to reach their highest level since 2020 this month, narrowing the gap with Russian supplies as New Delhi faces ongoing US pressure to reduce its purchases of Russian oil, according to data from Kpler cited by Bloomberg on Friday.
Flows from Saudi Arabia are projected at between 1 million and 1.1 million barrels per day (bpd), Kpler lead research analyst Sumit Ritolia said, describing the volumes as the strongest since November 2019, bringing Saudi exports broadly in line with Russian deliveries.
Saudi Aramco
Kpler estimates Russian crude shipments to India at around 1.2 million bpd this month, which would keep Moscow as India's largest supplier, though at levels well below the more than 2 million bpd seen at peak periods over the past three years.
For March, Kpler forecasts Russian flows easing further to between 800,000 and 1 million bpd, noting that such a drop co...
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12.02.26 - 10:01
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Saudi oil giant gives $280 billion boost to GDP, creates 200,000 jobs (Times of India)
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Saudi Aramco has reached a significant milestone, achieving 70% local content in its supply chain. This achievement strengthens Saudi Arabia's industrial base and diversifies its economy beyond oil. The program has created over 200,000 jobs and attracted substantial foreign investment. Aramco aims to increase local content to 75% by 2030, further enhancing national capabilities and economic resilience....
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