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Tag: Drone

Oil could rise $10 per barrel after drone attack forces Saudi to cut output in half

Oil could rise $10 per barrel after drone attack forces Saudi to cut output in half

Finance
A trader wipes his eyes as he watches stock prices at the New York Stock Exchange in New York.Don Emmert | AFP | Getty ImagesOil prices could jump as much as $ 10 per barrel after a number of drone strikes hit the center of Saudi Arabia's oil industry, forcing the kingdom to cut its oil output in half.Ten drones attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday, causing a loss of 5.7 million barrels of crude production a day or 50% of the kingdom's oil output. Although it's still too early to tell the extent of the damage and how long the facilities will be shut down, oil analysts and traders told CNBC the impact on the commodity's price could be in the double digits."This is a big deal," said Andrew Lipow, president of Lipow Oil Associates. "Fearin...
Saudi Arabia oil and gas production reduced by drone strikes

Saudi Arabia oil and gas production reduced by drone strikes

World
Media playback is unsupported on your device Saudi Arabia has cut oil and gas production following drone attacks on two major oil facilities run by state-owned company Aramco.Energy Minister Prince Abdulaziz bin Salman said the strikes had reduced crude oil production by 5.7m barrels a day - about half the kingdom's output.A Yemeni Houthi rebel spokesman said it had deployed 10 drones in the attacks.US Secretary of State Mike Pompeo blamed the attacks on Iran saying there was no evidence they came from Yemen.The fires are now under control at both facilities, Saudi state media say. Aramco CEO Amin Nasser said no casualties had been reported in the attacks.The Saudis lead a Western-backed military coalition supporting Yemen's government, while Iran backs th...
Saudi Arabia oil facilities ablaze after drone strikes

Saudi Arabia oil facilities ablaze after drone strikes

World
Media playback is unsupported on your device Drone attacks have set alight two major oil facilities run by the state-owned company Aramco in Saudi Arabia, state media say.Footage showed a huge blaze at Abqaiq, site of Aramco's largest oil processing plant, while a second drone attack started fires in the Khurais oilfield.The fires are now under control at both facilities, state media said.A spokesman for the Iran-aligned Houthi group in Yemen said it had deployed 10 drones in the attacks.The military spokesman, Yahya Sarea, told al-Masirah TV, which is owned by the Houthi movement and is based in Beirut, that further attacks could be expected in the future.He said Saturday's attack was one of the biggest operations the Houthi forces had undertaken inside S...
Israel says it struck Iranian ‘killer drone’ sites in Syria

Israel says it struck Iranian ‘killer drone’ sites in Syria

World
Israel has struck Iranian military sites in Syria to prevent what it said was a pending drone strike by Iran.Israel's military rarely acknowledges operations in Syria, but it claimed on Saturday its strikes had prevented an attack on Israel "using killer drones".PM Benjamin Netanyahu hailed his military's "major operational effort". Israel is believed to have carried out hundreds of strikes in Syria since civil war broke out there in 2011, to try to prevent Iran gaining a foothold.An Israeli military spokesman said the strikes on Saturday targeted Iran's Quds force in Aqraba, south-east of the capital, Damascus.A Syrian military source quoted by the official Sana news agency said that Syrian anti-aircraft defences "detected enemy...
State Dept. approves $950M drone support services sale to South Korea

State Dept. approves $950M drone support services sale to South Korea

Business
July 30 (UPI) -- The State Department on Tuesday informed Congress that it has approved a potential $ 950 million sale of contractor logistical support services for South Korea's RQ-4 Global Hawk drone fleet. The support services South Korea is looking to purchase for its RQ-4 Block 30 remotely piloted aircraft fleet includes program management and training for pilots and other personnel. The purchase also would include modifications and upgrades to the drones, spares and repair/return parts, flight support, analysis, technical documentation and other logistical and program support. "The Republic of Korea is one of the major political and economic powers in East Asia and the Western Pacific and a key partner of the United States in ensuring peace and stability in the region," DSCA said i...