Big Oil and the biggest and yet-to-be-listed oil company in the world Saudi Aramco have updated their dividend plans in recent months in an indication that they consider they will increase returns to shareholders even when nobody is sure where oil costs can be a month, a quarter, or a year from now.
Crown prince Mohammed bin Salman has previously called for the firm to be valued at $2 trillion, while other Saudi officials and company executives have pegged Aramco's valuation closer to $1.5 trillion.
Saudi Arabia's full oil production capacity will be recovered by the end of November, Saudi Aramco CEO Amin Nasser said at the Oil & Money Conference in London on Wednesday.
On September 14, multiple drones targeted Saudi Aramco's Abqaiq and Khurais oil processing facilities, cutting Riyadh's daily net oil output in half and leading to the suspension of the production of some 5.7 million barrels of oil per day.
"An absence of worldwide resolve to take concrete action may embolden the attackers and indeed put the world's energy security at greater risk", he told the Oil & Money conference in London in rare political comments.
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"You heard the minister of foreign affairs and I think he spoke enough about (where) the attacks (are) coming from". However, both the Saudis and the U.S. have blamed Iran.
The attacks were claimed by Yemen's Huthi rebels.
He also stated that the attacks resulted in no reduction in revenue for the company because it continued to supply its customers as planned. Earlier, sources told Reuters that IPO prospectuses may be released on October 25 and 27, in Arabic and English.
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.
Aramco is on track to regain its maximum oil production capacity of 12 million (bpd) by the end of November, he added.