Connect with us

Aramco

Saudi Aramco said it is ready to go public…will wait for better market conditions

“We, in Saudi Aramco, have delivered strong and unmatched financial results, despite lower oil prices and volatile market conditions. This is really a testament to our resilience,” said al-Dabbagh, noting the talks are in the early stages.

Published

on

It looks like the same old song and dance from Saudi Aramco. basically repeating themselves for over a year.

Saudi Aramco said it is ready to go public, but the Saudi government will decide when market conditions are optimal for what would be the largest IPO ever.

“Basically, the company is ready for the IPO. Now the timing of the IPO itself, this is a shareholder’s issue, and they will announce it depending on their perception of what would be the optimum market condition,” said Khalid al-Dabbagh, chief financial officer, reiterating the company’s previous stance.

Video of Saudi Aramco talking about the same thing.

they might have to wait yet another year if the Market goes into recession the end of the year or early next.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Aramco

Crude oil prices could plunge lower

Published

on

By

Saudi Arabia has restored half of the crude product that was lost to devastating attacks on its oil industry, and the kingdom said output will be fully restored by the end of this month.

If we don’t see any new drone attackS on Saudi oil infrastructure we could see Crude oil prices going even lower. Before the oil attacks against Saudi oil infrastructure, the Crude oil prices were already heading lower.

Continue Reading

Aramco

$1.5 trillion IPO up in smoke?

Published

on

By

New security fears jeopardize Saudi Aramco’s public stock offering following the attack.

last week Saudi Aramco CEO Amin Nasser told media, the company would list on the Riyadh stock exchange “very soon” as bankers from JP Morgan, Goldman Sachs, Credit Suisse, and Citigroup met in Dubai to kickstart the offering.

The oil giant has delayed its IPO, originally scheduled for 2018, reportedly over Saudi concerns about public scrutiny over its finances and because of the complexity of its corporate structure. Prince Mohammed has touted a valuation of as high as $2 trillion, while a number of bankers recommend a figure closer to $1.5 trillion. The oil price will be key to this.

https://www.cnbc.com

Saudi Arabia oil facility attack launched from Iranian soil, US officials say. – No Proof has been brought forward yet on Iran’s involvement.

“I want to reiterate that the United States wholeheartedly condemns Iran’s attack on the Kingdom of Saudi Arabia and we call on other nations to do the same,” Perry told reporters. “This behavior is unacceptable. It is unacceptable and they must be held responsible.”

Continue Reading
Advertisement Oilfield Forums Oilfield Forums
Advertisement Oilfield Forums
Advertisement

Fracking Categories

Tags

Trending