Wednesday 11 October 2017

Saudi oil policy seen through the prism of Aramco’s IPO | Arab News

Saudi oil policy seen through the prism of Aramco’s IPO | Arab News:

"It is tempting to look at virtually every news announcement in the Saudi Arabian energy sector through the prism of the planned flotation of Saudi Aramco, arguably the biggest event in the Kingdom’s oil industry since the discovery of commercial reserves in the 1930s. This week brought two further reminders of how the initial public offering (IPO) is determining policy not only for Aramco itself, but also for the Saudi energy sector as a whole: A government decision to reduce oil exports, and a big new refinery in India. Aramco strategists have several concerns on their minds at the moment, including the status of independent reserves valuations being prepared in the US, and the decision on whether New York or London will be the main foreign venue for the biggest IPO in history."



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