Last Update 22:46
Thursday, 24 October 2019

Attack on Saudi oil facilities will have consequences: Total CEO

Reuters , Tuesday 17 Sep 2019
Patrick Pouyanne
Total CEO Patrick Pouyanne attends a hearing of French parliament's economic commission at the National Assembly in Paris, France, September 17, 2019. REUTERS
Share/Bookmark
Views: 973
Share/Bookmark
Views: 973

Total CEO Patrick Pouyanne said on Tuesday last weekend's attacks on Saudi oil production facilities will have consequences, adding that he feared the situation in the Middle East might deteriorate further.

"Launching an attack on half of Saudi Arabia's oil production will have consequences (...) I fear this major attack will not be left without retaliation. We don't know where all this will end", he said during a scheduled parliamentary hearing in Paris.

Yemen's Iran-aligned Houthi rebels said they attacked two plants at the heart of Saudi Arabia's oil industry on Saturday, knocking out more than half the Kingdom's output and triggering the biggest jump in oil prices in almost 30 years.

But Pouyanne played down the consequences of that spike on France's domestic fuel prices.

"Yesterday oil prices gained 10 percent, today they are losing four percent (...) We'll see how all this evens out."

Pointing out that oil prices were on a downward trend before the attacks, Total's CEO said he had heard the French government's call urging oil companies to show moderation on retail prices.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.