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Wednesday, 28 June 2017

Saudi Aramco called on to improve data disclosure ahead of IPO

Saudi Aramco called on to improve data disclosure ahead of IPO:

"A leading governance body has called on Saudi Aramco to disclose closely-held data ahead of its planned 2018 initial public offering, after its new research ranked the kingdom among the world’s most opaque oil-producing nations. The Natural Resource Governance Institute, a non-profit policy group, analysed 74 state-owned enterprises operating in extractive industries as part of a broader assessment into how countries manage their oil, gas and minerals sectors. The world’s biggest copper miner, Codelco of Chile, was ranked the best with a score of 90 out of 100. But Saudi Arabia’s state energy giant, the world’s largest oil producer which pumps roughly one in every nine barrels of crude globally, came in 64th place out of 74 with just 27 points."



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