• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 2 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 38 mins Did China cherry-pick the factors that affected the economic slow-down?
  • 2 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 2 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 17 mins Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 3 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 3 days Nord Stream - US/German consultations
  • 409 days Class Act: Bet You've Never Seen A President Do This.
  • 5 days An Indian Opinion on What is Going on in China
  • 5 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 2 days Forecasts for Natural Gas
  • 3 days Australia sues Neoen for lack of power from its Tesla battery
  • 5 days Storage of gas cylinders
Can Colombia Capitalize On Climbing Crude Prices?

Can Colombia Capitalize On Climbing Crude Prices?

While Colombia’s rig count has…

Libya's Election Is All About Oil Money

Libya's Election Is All About Oil Money

The looming election in Libya…

U.S. Oil Stocks Are Seriously Undervalued Right Now

U.S. Oil Stocks Are Seriously Undervalued Right Now

Oil prices have rallied more…

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