The attacks on Saudi Aramco’s installations on September 14 will have no effect on its listing plans in the stock market, Amin Nasser, Aramco’s CEO, said in a conference in London, Reuters reported.

Aramco’s Abqaiq and Khurais plants were attacked, which led to shutting down around 5.7 million barrels per day (b/d) and increasing prices by around 20%.

“An absence of international resolve to take concrete action may embolden the attackers and indeed put the world’s energy security at greater risk,” Nasser said.
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Nevertheless, Nasser pointed out that these attacks did not impact Aramco’s revenues, and also had “no impact on the [initial public offering (IPO)] whatsoever.”

Saudi Arabia is pressing ahead with plans to sell between 1% and 2% of Aramco through a local listing, which might be followed by additional share sales internationally.

It is worth mentioning that Aramco’s oil production stood at around 9.9 million b/d in October, and the company is on track to restore its maximum production capacity of oil, which is around 12 million b/d by the end of November.

Furthermore, despite attacks, Saudi Arabia succeeded in providing customers with levels near to normal through its inventories and offering crude grades from other fields.