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Monday, 6 March 2017

Saudi Aramco's Green Energy Push Seen Widening Appeal of IPO - Bloomberg

Saudi Aramco's Green Energy Push Seen Widening Appeal of IPO - Bloomberg:

"Aramco is the world’s largest oil company, but when it sells shares next year its foray into renewables is what may lure investors who would otherwise be forced to stay away. Saudi Arabian Oil Co., as it is formally called, is considering investments of as much as $5 billion in renewable energy, part of the kingdom’s effort to reduce the amount of oil feeding domestic energy needs. That program and signs that King Salman’s government is finally making good on its vows to dramatically expand use of photovoltaics underpin the credibility of Aramco’s embrace of environmental and sustainability goals, measures that investors increasingly are looking for."



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