• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 6 mins EU has already lost the Trump vs. EU Trade War
  • 11 hours Impeachment S**te
  • 5 hours More dumbed down? re Hong Kong Act of Congress
  • 18 hours 55.00 WTI
  • 1 hour Article: Did Exxon only make $39 Million onshore U.S. last quarter ?
  • 3 hours Visualizing Pennsylvania Oil & Gas Production (Through September 2019)
  • 2 days IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 2 days Crazy Stories From Round The World
  • 4 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 1 day Everything You Need To Know About Trump
  • 3 hours Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 20 hours Water, Trump, and Israel’s National Security
  • 3 days Science: Only correct if it fits the popular narrative
  • 2 days ‘If it saves a life’: Power cut to 1.5 million Californians
  • 1 day Last I Checked
Alt Text

Iran Admits: Tanking Oil Revenue Cripples Country

Iran's President, Hassan Rouhani, has…

Alt Text

The No.1 Oil Hotspot For 2020

While the Middle East gets…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

Saudi Arabia To List Aramco Shares In New York, London, Hong Kong

Saudi Arabia revealed more details about its planned initial public offering of the state-owned oil company Saudi Aramco. As part of Deputy Crown Prince Mohammed bin Salman’s vision to diversify the Saudi economy over the next decade and a half, the IPO of Aramco could raise cash while also making the company more transparent.

The Telegraph reported that Saudi Aramco plans a three-way listing, with shares listed in London, New York, and Hong Kong. Also, Aramco hopes to convince some of the oil majors, including ExxonMobil, BP and China’s Sinopec, into taking “strategic stakes” in Aramco, “offering them long-term access to upstream operations in return for cutting-edge technology or refinery deals,” a Saudi source told The Telegraph. Related: Crisis In Venezuela – A Lesson From Saudi Arabia

The IPO is slated for 2017 or 2018, and the Deputy Crown Prince previously said that he believes Aramco is worth somewhere around $2.5 trillion. If true, that would mean the proposed privatization of 5 percent of the company would be worth roughly $100 to $150 billion. The IPO would be worth five times more than any other offering in London’s history. However, many analysts question the Prince’s figure. Robin Mills of Qamar Energy, for example, says Aramco is probably only worth $250 to $400 billion.

The money that is raised from the IPO could be invested in non-oil sectors of the economy, a key plank of the Prince’s “Vision 2030,” a major economic transformation strategy initially outlined in April. Related: World’s Largest Shipping Company Preparing For Another Oil Price Crash

In another sign that the 31-year old Deputy Crown Prince is shaking up the Saudi government, over the weekend the long-time oil minister Ali al-Naimi was unceremoniously replaced by Khalid al-Falih, the head of Aramco. To be sure, the 80-year old al-Naimi was not expected to remain in his post for too much longer, but the reshuffling further cements the young Prince’s grip on oil policy. Mr. Naimi was overruled in Doha a few weeks ago by the Deputy Crown Prince, a sign that he was no longer the country’s most powerful voice on oil. Khalid al-Falih is a supporter of the Prince’s strategy to pursue oil market share and push out high-cost producers.

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment
  • Amvet on May 11 2016 said:
    Consider the following possibility:
    You oil fields are old and sick.
    You make a big show of having massive production potential to drive up the market price for the stock in our oil fields. As a side benefit you damage your oil producing enemies.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play