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SAUDI ARABIAN OIL COMPANY

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Saudi Arabian Oil : Aramco 'faces $50m ransom' after data leak

07/22/2021 | 08:51am EDT

Saudi Aramco is reportedly facing a $50m (£36.3m) ransom demand after a data leak from one of its contractors.

The world’s largest oil firm confirmed in a statement that it “recently became aware of the indirect release of a limited amount of company data which was held by third-party contractors.”

Aramco added: “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.”

According to the AP, a page on the dark web claims that the ransomers are holding 1 terabyte worth of the firm’s data.

The state-owned firm has been offered the chance to have the data deleted in return for $50m in cryptocurrency, it added.

It is the second time this year that a industry player has come under cyber attack, after the Colonial Pipeline in the US was targeted by hackers in May.

On that occasion, the attackers demanded $4.4m in bitcoin in return for handing back control of the pipeline, which carries around 3m barrels of oil a day between Texas and New York.

The attacks have led to fears that critical national infrastructure assets could increasingly come under assault from cyber criminals.

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The post Saudi Aramco 'faces $50m ransom' after data leak appeared first on CityAM.

© City AM, source Newspaper

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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 1 863 B 1 863 B
EV / Sales 2021 5,35x
EV / Sales 2022 4,91x
Nbr of Employees 79 000
Free-Float 1,76%
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 34,95 SAR
Average target price 35,21 SAR
Spread / Average Target 0,75%
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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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