arabian

Saudi Aramco Hits $Two Trillion In Value Business

The company’s IPO raised US$29.4bn three years ago, and now Crown Prince Mohammed bin Salman has announced plans to sell far more Aramco stock. Crown Prince Mohammed bin Salman is the architect of the work to list Aramco, touting it as a way to raise capital for the kingdom’s sovereign wealth fund, which would then create new cities and profitable projects across the country that create jobs for young Saudis. Nevertheless, current attacks on two of the company’s oil processing web pages show the investment is not fully threat-free. For example, if the royalty range in a sector is -five%...