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Energy & petrochemicals brief
Sunday, 1 November 2026 · Jumada I 21, 1448 AH |
Oil, gas, power and the energy shift Monitoring window: 07:12 on 25 Oct to 07:12 on 1 Nov, Riyadh time
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Energy & petrochemicals in Saudi Arabia · 2 min read
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Drone attacks spark fires at two Saudi Aramco facilities in Abqaiq and Khurais; authorities say fires under control |
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The bottom line
RiskRepeated attacks on Aramco sites in Abqaiq and Khurais raise operating risk in the Eastern Region. WatchThe unused-capacity charge touches power costs for sites with high contracted loads. WatchOPEC+ holding targets as oil hits a six-month high precedes setting 2027 baselines.
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Markets
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Brent crude
117.64 $/barrel ▲ 2.4%
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Gold
3,874.40 $/oz ▼ 3.5%
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Saudi market index (TASI)
9,921.50 points
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S&P 500
7,580.07 points ▼ 1.8%
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30 Oct close (Saudi market index (TASI): 29 Oct)
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Today at a glance
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Drone attacks spark fires at two Aramco facilities in Abqaiq and Khurais, now under control
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The lead story
Drone attacks spark fires at two Aramco facilities in Abqaiq and Khurais
What happened The interior ministry spokesman said drone attacks on two Saudi Aramco facilities in Abqaiq and Khurais on Saturday sparked fires that the company brought under control. The coalition separately said it downed a drone over the Eastern Region; the Houthis denied any attack on Friday.
Why it matters The attacks hit core production sites in the Eastern Region, home to most oil and gas reserves, after an earlier October attack extensively damaged Aramco's headquarters.
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◆ Regulation (2)
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Official gazette
Umm Al-Qura publishes electricity regulator's annual charge on contracted but unused capacity
By Saudi Electricity Regulatory Authority
Medium-voltage consumers must pay 60 riyals per kVA a year if their peak load over the last 3 years is below 80% of contracted load, five years after service start. Providers must send three notices before billing, offering the option to reduce contracted load.
Why it matters: Industrial sites with high unused contracted load face a new annual charge, avoidable by cutting contracted load before the final notice.
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Singapore
Saudi Arabia and Singapore plan to store Saudi crude in Jurong caverns
Aramco exchanged an MoU with Singapore's Energy Market Authority and JTC to store crude in the Jurong Rock Caverns, with operations expected from the second half of 2027.
Why it matters: The arrangement strengthens the reliability of Saudi crude supply to Southeast Asia.
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◆ Industry & market (3)
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◆ Saudi Arabia: security & major events
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◆ Worth reading
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◆ On the radar
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◆ Sun 1 Nov: OPEC+ monthly meeting on oil output levels OPEC
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For this brief we read 186 stories and chose 8.
Ijaz selects and summarizes the news with AI and can get things wrong. Check the source before relying on a story. Report any error to hello@ijaz.ai.
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