Oil stabilizes as Saudi output restoration calms market fears

[thackney]

Oil stabilizes as Saudi output restoration calms market fears
https://www.chron.com/business/energy/article/Oil-Extends-Drop-as-Saudi-Output-Restoration-14448738.php
September 18, 2019

Oil stabilized on signs Saudi Arabia is quickly restoring production following a debilitating weekend attack, after two tumultuous days in which it surged the most on record and then pared almost half of that gain.

Brent slid on Wednesday, having tumbled the previous day as Saudi Aramco said it had revived 41% of capacity at a key crude-processing complex days after a devastating aerial attack that wrecked vital equipment and rocked world energy markets. The global crude benchmark was back to about $64 a barrel after jumping to near $72 in reaction to the disruptions.

The Aramco announcement followed conflicting media reports about the pace and probable duration of the state-owned company’s efforts to repair the damaged Abqaiq facility. Despite the kingdom’s reassurances at a media briefing in Jeddah, crude remained around 6% higher than the pre-attack price....

[IsailedawayfromFR]

Saudi Aramco is firing up idle offshore oil fields -- part of its cushion of spare capacity -- to replace some lost production, a person familiar with the matter said.

Highly unusual to have spare capacity existing in offshore due to need to maximize production in an area of high capital and operating expense like offshore is prone to be compared to onshore.

This might be Khurais or Manifa field, both limited due to technical issues at one time.

Or it could be Khafji, the extension into the Neutral Zone of the world's largest offshore oil field Safanayi.  The Saudis and Kuwaitis jointly operate the Neutral Zone and are involved in a typical dispute on those operations, impacting Khahji production.

https://www.demac.com/ru/the-saudi-plan-to-boost-spare-oil-production-capacity/

[thackney]

Saudi Aramco is firing up idle offshore oil fields -- part of its cushion of spare capacity -- to replace some lost production, a person familiar with the matter said.

Highly unusual to have spare capacity existing in offshore due to need to maximize production in an area of high capital and operating expense like offshore is prone to be compared to onshore.

This might be Khurais or Manifa field, both limited due to technical issues at one time.

Or it could be Khafji, the extension into the Neutral Zone of the world's largest offshore oil field Safanayi.  The Saudis and Kuwaitis jointly operate the Neutral Zone and are involved in a typical dispute on those operations, impacting Khahji production.

https://www.demac.com/ru/the-saudi-plan-to-boost-spare-oil-production-capacity/

Some of their offshore is kinda onshore.





Saudi Aramco’s Manifa field: A feat of engineering in the shallow sea
https://www.arabnews.com/node/1140211/business-economy

[IsailedawayfromFR]

Some of their offshore is kinda onshore.





Saudi Aramco’s Manifa field: A feat of engineering in the shallow sea
https://www.arabnews.com/node/1140211/business-economy

those look like man made islands, like those at Longbeach Wilmington THUMS.

[thackney]

those look like man made islands, like those at Longbeach Wilmington THUMS.

Yes, 27 man-made islands and a 25 mile long causeway.

[Idiot]

Yes, 27 man-made islands and a 25 mile long causeway.

Quite impressive.  Doubt Teddy Kennedy could have made that drive in his day...lol.

[IsailedawayfromFR]

Yes, 27 man-made islands and a 25 mile long causeway.

One of THUMS islands near downtown Long Beach.

drilling rigs are disguised as skyscrapers.