Search Site

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

Saudi Arabian oil refinery hit by Yemen rebel drone attack

A picture shows an installation of drone models in Tahrir Square in the Yemeni capital Sanaa. AFP File
  • The attack did not result in any injury or death, nor was the supply of oil or its derivatives affected, the ministry said.
  • The Houthis said they fired three drones at the Aramco refinery and six more at the oil giant's facilities in the southwestern cities of Jizan and Abha.

A drone attack claimed by Yemen rebels on a Saudi oil refinery caused a fire but did not disrupt supplies, officials said Friday, as oil prices soar after Russia’s invasion of Ukraine.

Friday’s pre-dawn attack was claimed by the Iran-backed Houthis and follows a series of similar assaults on Saudi facilities by the rebels, who are fighting a Saudi-led coalition.

“The Riyadh oil refinery was attacked by a drone, resulting in a small fire that has been brought under control,” the energy ministry said, according to the official Saudi Press Agency.

“The attack did not result in any injury or death, nor was the supply of oil or its derivatives affected,” it added, calling it an act of “sabotage and terrorism” but without directly blaming the rebels.

The Houthis said they fired three drones at the Aramco refinery and six more at the oil giant’s facilities in the southwestern cities of Jizan and Abha “and other sensitive locations”. The Saudis did not report any other attacks.

Brent oil prices have seesawed between $139 and $105 in extreme volatility this week, after the war in Ukraine prompted concerns over supplies.

Saudi Arabia, one of the world’s biggest oil exporters, and its partners in the OPEC alliance have come under pressure to raise production to help rein in prices.