Saudi Aramco’s $2tn valuation looks to be a tough target

Saudi Aramco’s $2tn valuation looks to be a tough target:

"Saudi Aramco is unlikely to achieve the $2tn valuation sought after by Saudi officials ahead of its planned stock market listing despite the state energy giant’s huge profits and cash flows.

The financial community and oil analysts have long been sceptical of the ambitious valuation targets of the kingdom’s crown prince Mohammed bin Salman, but now new financial information adds weight to the idea that Saudi Arabia is unlikely to get there.

For decades financial information has been kept a closely guarded state secret. But now it has emerged that the world’s largest oil producer earned $33.8bn in the first half of 2017, according to Bloomberg that cited company accounts it had seen."



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