• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 4 days European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 1 day Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 6 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 7 days Demonising fossil fuels has caused major grid problem in Australia
  • 6 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 8 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"

Breaking News:

Oil Likely To Hit $200: SEB Group

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Saudis To Raise $10 Billion Ahead Of Aramco IPO

Saudi Arabia’s oil giant Saudi Aramco has hired four banks as advisers to its first bond sale, possibly by June this year, ahead of a planned initial public offering next year, Bloomberg reported on Monday, quoting people familiar with the matter.

Aramco has picked HSBC Holdings’ local unit HSBC Saudi Arabia, as well as Riyad Capital, to advise it on the sale of riyal-denominated Islamic bonds, the so-called sukuk, before the end of the first half this year.

In addition, NCB Capital Co and Alinma Investment Co are also said to be working on the sukuk sale, which is part of Saudi Aramco’s plans to generate US$10 billion in bond sale proceeds in 2017, according to one of Bloomberg’s sources. The sukuk issue could be followed by a dollar-denominated bond sale, according to others.

Aramco’s possible bond sale would follow the Saudi Arabian government’s huge US$17.5 billion bond issue in October last year, which became the largest-ever emerging market bond sale and attracted orders from investors totaling nearly four times that amount. Related: Keystone XL Needs Much Higher Oil Prices To Be Viable

Apart from setting up talks with possible advisers for a bond issue, Saudi Aramco recently made the headlines with reports that an external audit of its oil reserves had confirmed that the Saudi oil giant has more than 261 billion barrels of reserves.

In view of next year’s share listing, Saudi Aramco is required to provide an independent audit of its reserves. Significantly higher or lower reserves would greatly change the evaluation of the company, which Saudi officials say is worth around US$2 trillion. Although Saudi Arabia plans to sell just 5 percent of Aramco’s shares, its IPO is expected at around US$100 billion, the world’s largest ever.

Ahead of its planned IPO, Saudi Aramco is also on the hunt for advisers and was said to have recently sent requests for proposals to several investment banks that could become advisers in the process.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News