Connacher Oil & Gas Ltd CLLZF

Saudi blast could halve exports for a year

[righand99]

'Blast heard at Saudi refinery' An explosion and shots have been heard at a major oil refinery at Abqaiq in eastern Saudi Arabia, reports say. Officials say they have foiled an attempt to bomb the refinery with two vehicles packed with explosives, the Saudi al-Arabiya TV station reported. BBC Security correspondent Frank Gardner says the attack is the first direct assault on Saudi oil production The militant group al-Qaeda on the Arabian Peninsula has long called for attacks on Saudi oil installations. About two-thirds of Saudi Arabia's oil is processed at the Abqaiq refinery, one of the largest in the world. Oil security analysts have estimated that a serious attack on the Abqaiq facility could halve Saudi exports for up to a year. 'Pipeline damage' According to al-Arabiya TV, suicide bombers in two cars attempted to attack the facility but were stopped by gunfire from guards. One car exploded, damaging a pipeline, the report said. The two cars carried the logo for Aramco, the state oil company. An oil official confirmed the explosion to the Associated Press agency, but said he did not know the cause. --------------------------------------------------------------------------------