Domestic only—the key aspect of Aramco IPO
The state energy giant’s decision to proceed with a share sale is no surprise, but the lack of an international listing is a crucial point
“A significant milestone in the history of the company and important progress towards delivering Saudi Vision 2030”. Thus Yasir al-Rumayyan, chairman of state-owned oil production Saudi Aramco and governor of the country’s Public Investment Fund (PIF), described the early November announcement that the firm would pursue a public offering of a small volume of its shares on the Saudi domestic stock exchange. The timing of the initial public offering (IPO) —and, at times, even whether it would ever happen—had been the subject of speculation, almost since the idea that a small portion of Aramco would be offered to the public was first mentioned in April 2016, when Crown Prince Mohammed bin S
Also in this section
7 May 2024
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well