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    2222   SA14TG012N13

SAUDI ARABIAN OIL COMPANY

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Saudi Arabian Oil : Aramco facing $50M cyber extortion over leaked data

07/21/2021 | 11:15am EDT

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state oil giant acknowledged Wednesday that leaked data from the company — files now apparently being used in a cyber-extortion attempt involving a $50 million ransom demand — likely came from one of its contractors.

The Saudi Arabian Oil Co., better known as Saudi Aramco, told The Associated Press that it “recently became aware of the indirect release of a limited amount of company data which was held by third-party contractors.”

The oil firm did not say which contractor found itself affected nor whether that contractor had been hacked or if the information leaked out another way.

“We confirm that the release of data was not due to a breach of our systems, has no impact on our operations and the company continues to maintain a robust cybersecurity posture,” Aramco said.

A page accessed by the AP on the darknet — a part of the internet hosted within an encrypted network and accessible only through specialized anonymity-providing tools — claimed the extortionist held 1 terabyte worth of Aramco data. A terabyte is 1,000 gigabytes.

The page offered Aramco a chance to have the data deleted for $50 million in cryptocurrency, while another timer counted down from $5 million, likely in an effort to pressure the company. It remains unclear who is behind the ransom plot.

Aramco has been targeted before by a cyberattack. In 2012, the kingdom's oil giant found itself hit by the so-called Shamoon computer virus, which deleted hard drives and then displayed a picture of a burning American flag on computer screens. The attack forced Aramco to shut down its network and destroy over 30,000 computers.

U.S. officials later blamed that attack on Iran, whose nuclear enrichment program had just been targeted by the Stuxnet virus, likely an American and Israeli creation.

In 2017, another virus swept across the kingdom and disrupted computers at Sadara, a joint venture between Aramco and Michigan-based Dow Chemical Co. Officials at the time warned it could be another version of Shamoon.

The sliver of Aramco that now trades publicly on Riyadh'sTadawul stock exchange stood at 34.90 riyals a share, or $9.30, after trading stopped last week for the Muslim holiday of Eid al-Adha. That puts the company's valuation at around $1.8 trillion, making it one of the world's most-valued companies.

Follow Jon Gambrell on Twitter at www.twitter.com/jongambrellAP.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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Analyst Recommendations on SAUDI ARABIAN OIL COMPANY
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Financials
Sales 2021 1 352 B 360 B 360 B
Net income 2021 367 B 97 910 M 97 910 M
Net Debt 2021 245 B 65 228 M 65 228 M
P/E ratio 2021 19,0x
Yield 2021 4,04%
Capitalization 6 986 B 1 862 B 1 863 B
EV / Sales 2021 5,35x
EV / Sales 2022 4,91x
Nbr of Employees 79 000
Free-Float 1,76%
Chart SAUDI ARABIAN OIL COMPANY
Duration : Period :
Saudi Arabian Oil Company Technical Analysis Chart | 2222 | SA14TG012N13 | MarketScreener
Technical analysis trends SAUDI ARABIAN OIL COMPANY
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 34,95 SAR
Average target price 35,21 SAR
Spread / Average Target 0,75%
EPS Revisions
Managers and Directors
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Khalid Hashim Al-Dabbagh Director, SVP-Finance, Strategy & Development
Yasir bin Othman Al-Rumayyan Chairman
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Ziad Thamer Al-Murshed Vice President-International Operations
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