Saudi energy industry attacked by malware Shamoon

The attack nicknamed Shamoon is reported to have already hit "at least one organisation" in the energy sector. Shamoon can wipe files and make several computers on a network unusable. The Saudi national oil company reported it had problems and that its network had to be taken offline. However, the company, Saudi Aramco, did not directly link its problems to Shamoon but it did admit that it had suffered a sudden disruption in its computer operations.

The company hower did issue a statement saying that the problems were "suspected to be the result of a virus that had infected personal workstations without affecting the primary components of the network.:" The statement also claimed that the disruption had no effect at all on operations.

The security firm Symantec reports:"It(Shamoon) is a destructive malware that corrupts files on a compromised computer and overwrites the MBR (Master Boot Record) in an effort to render a computer unusable," The malware attacks a computer through the internet and it is then spread to other computers in the local network even though they themselves may not be connected to the internet. The list of wiped files is sent back to the originally infected computer and then to the attacker's command and control center. The article does not say if the contents too are sent or just the list. Wiped files are replaced by images which obstructs attempts to recover the files.

An Israeli-based security firm Seculert said that the code has unusual characteristics:"The interesting part of this malware is that instead of staying under the radar and collect information, the malware was designed to overwrite and wipe the files...Why would someone wipe files in a targeted attack and make the machine unusable?" Perhaps they wanted to sabotage the computers as well as destroy the files.

A number of cyber attacks have been employed against industries of late. The most well known is the Stuxznet virus which attacked Iran nuclear operations making centrifuges act erratrically. Some viruses have been designed to infiltrate networks and steal data. For more see this article. .

Saudi Aramco to sell stake in Petron, Philippine refiner and retailer

It seems that Arroyo has no plans for the government to buy the 40 per cent shares even though the government has the right to do so. As with most rulers nowadays they pursue privatisation often leading to the enrichment of their cronies and certainly opening up everything for foreign investment as well.

This is from IHT.

Saudi Aramco unit to sell stake in Philippine oil refiner, retailer Petron
The Associated PressPublished: March 14, 2008

MANILA, Philippines: Petron Corp., the largest Philippine oil company by assets, said Friday that major shareholder Aramco Overseas Co. plans to sell its 40 percent stake to SEA Refinery Holdings, a company owned by Ashmore Group PLC.

Petron said is a statement to the Philippine Stock Exchange the Ashmore unit has offered US$550 million (€353 million) for the 3.75 billion Petron shares held by Aramco Overseas, a subsidiary of Saudi Aramco, the national oil company of the Kingdom of Saudi Arabia.

Officials from Aramco and Ashmore weren't immediately reachable for comment.

Ashmore is a global asset management company listed on the London Stock Exchange that manages US$36.5 billion (€23.4 billion) in assets.

State-owned Philippine National Oil Co. — Petron's other major shareholder with a 40 percent stake — said separately it will evaluate the terms of Ashmore's proposal and decide whether to exercise its right of first offer to purchase the shares.


"We have received a notice from Aramco Overseas regarding the proposed sale of its shares in Petron, and will carefully evaluate this filing with the diligence and rigor necessary and appropriate to determine the best course of action," said PNOC President and Chief Executive Antonio Cailao.

In 1994, the government privatized Petron, with PNOC selling a 40 percent stake to Aramco Overseas for US$535 million. PNOC held onto another 40 percent and sold 20 percent to the public.

President Gloria Macapagal Arroyo said in a statement that Ashmore's decision to purchase Aramco's Petron shares is "a vote of confidence in Petron and the positive environment that has been created for foreign investment in our country."

She said Ashmore "knows the Philippines well through its investment in our international financing and in an important utility, Maynilad Water."

At the exchange rate of 41.45 pesos to the U.S. dollar, Ashmore's offer values Petron at 6.08 pesos per share, compared to Thursday's close of 6.10 pesos. Its shares fell 1.7 percent Friday to 6 pesos.

"Petron's business remains strong and I am confident that our momentum will continue," said Petron Chairman and Chief Executive Nicasio Alcantara. The company is looking forward "to continuing our relationship commercially under Saudi Aramco's commitment to maintain crude oil supply," he said.

Petron operates a 180,000 barrel a day refinery and supplies nearly 40 percent of the country's oil requirements, according to its statement. It also has more than 1,250 service stations, the largest network in the Philippines.