Why investors should think twice over Saudi Aramco bet - FT.com:
"Imagine for a moment that the Saudi Arabian government followed through on its vaguely expressed idea of floating a stake in Saudi Aramco, the world’s biggest oil producer. What exactly would investors be getting for their cash?
It certainly would not be a share in a straightforward profitmaking enterprise. National oil companies tend to be unconventional beasts at the best of times. And that is especially true in Aramco’s case. So much so, that it is often hard to see where the state stops and the company begins.
Its myriad duties go far beyond extracting oil from the ground. Aramco runs a university, a hospital system capable of treating 360,000 people and is responsible for the flood defence network around Jeddah, Saudi’s commercial centre."
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