Econintersect: (Final update 7:48 am 2 March 2012, New York time) This will be a running post of what we learn about a pipeline explosion in the Saudi Arabian city of Awamiyah. According to CNBC, the Saudi’s have denied this explosion occurred. This post will continue to be updated until proof this blast occurred or not.
What is known at this time is that crude prices have spiked, and that there has been other trouble in Awamiyah.
Where is Awamiyah
It is very near Ras Tanurah – Saudi’s biggest refinery. It is along the major north – south pipeline.
Updates
Update at 1:26 am EST 02 March 2012: A review of all major wire services finds no additional reports following the Saudi denial of a problem at approximately 5 pm 01 March.
Update at 7:48 am EST 02 March 2012: One of the original sources of this news, added an additional picture of the fire. No new denials by Saudi Arabia, or additional news media stories with new information. If this picture is correct, the damage to the pipeline is minor, and easy to rapidly repair (days not weeks). This does not appear to be much of a story (Steven Hansen opinion).
