SAUDI ARABIA is thinking about listing shares in Saudi Aramco, the state-owned company that is the world’s biggest oil producer and almost certainly the world’s most valuable company. Muhammad bin Salman, the kingdom’s deputy crown prince and power behind the throne of his father, King Salman, has told The Economist that a decision will be taken in the next few months. “Personally I’m enthusiastic about this step,” he said. “I believe it is in the interest of the Saudi market, and it is in the interest of Aramco.”
The potential listing comes as Saudi Arabia grapples with the damage wreaked on its economy by an oil-price collapse to below $35 a barrel, as well as mounting tensions with its arch-rival Iran, following the execution of Saudi cleric Nimr Baqr al-Nimr in early January. It is just one possible step in an ambitious plan to balance the budget and throw open the country’s closed economy.
How many agrees here?
How you expect it trade below $36
EXXON major Crude Oil extractor world wide includes USA & Saudi partner ARAMCO, With 37 oil refineries in 17 countries supplying fuels, lubricants and other high-value products, ExxonMobil is the largest refiner in the world ExxonMobil was the second most profitable company in the Fortune 500
Crude oil World consumption is 92Million bpd production Avg is 95Million bpd and Venezuela, Brazil already stop production from government directives ...
The Weekly Petroleum Status Report will be released on Thursday, January 21, 2016 at 11:00 A.M. and 1:00 P.M. (Eastern Time) due to the closure of the Federal Government on Monday, January 18.