Saudi Arabian oil company Aramco surpassed Apple (NASDAQ:AAPL) as the world’s most valuable public company Wednesday when its shares made their debut on the Saudi stock exchange. The shares’ 10% rally brought state-owned Aramco’s value to $1.88-T. The 1.5% of the company that is listed has raised $25.6-B, a record for an IPO. As of […]
$DIA, $SPY, $QQQ, $RUTX, $VXX Saudi Aramco is exploring ways to reward loyal investors in its IPO (initial public offering) to ensure the record share sale is not followed by a wave of selling. One way that Aramco has discussed with Saudi regulators is whether it could offer bonus shares to retail stock buyers who […]
Saudi Added to MSCI Emerging Markets Index, Huge Cash Inflows Seen MSCI said 32 major Saudi stocks will gain emerging market status Index provider MSCI confirmed that Saudi Arabia will be added to its emerging markets index from June 2019, in a move widely expected to help the Kingdom’s bourse attract greater investment. MSCI said […]
Saudi Arabia Looking for Crude Oil at $100 bbl $OIL, $USO The world’s Top Crude Oil exporter Saudi Arabia will be happy to see crude rise to 80 – 100 bbl, a signal the Kingdom will seek no changes to an OPEC supply-cutting deal even though the agreement’s original target is in sight. The Organization of […]
Saudi Arabia’s New Mega City NEOM is Crown Prince’s Desert Dream Future reforms are expected to cut subsidies, raise taxes, overhaul the education system Saudi Arabia’s planned $500-B mega-city is an oasis of stunning cliffs, sandy beaches and high-tech projects powered by wind and solar energy where robots outnumber humans and a cosmopolitan lifestyle offers […]
Saudi Aramco May Scrap IPO, Going with Private Investors $OIL Saudi Aramco is considering the sale of a stake to a Chinese investor as plans for its highly-anticipated international public offering are pushed beyond its Y 2018 target, sources familiar with the matter said Friday. The IPO (initial public offering) is expected to be the […]
Saudi’s Accelerate Economic Reforms, Aramco IPO on Track Saudi Arabia’s government says that it is accelerating its economic reforms, while revising some of them to give ministries more flexibility in meeting their targets. The Vision 2030 reform program, launched by Crown Prince Mohammed bin Salman last year, aims to free the economy from dependence on […]
Saudi Aramco to Sign Deals with US Firms During President Trump’s Visit $BHI, $HAL, $SLB, $GE Deals are expected to be signed with US companies such as Schlumberger, Halliburton, Baker Hughes and Weatherford Saudi Aramco is due to sign deals with 12 US companies Saturday during US President Donald Trump’s visit to Saudi Arabia. The […]
Saudi Aramco’s Crude Oil Reserves Confirmed by External Audit ahead of IPO $OIL, $BHI, $BP Based on a figure of 265-B barrels, Aramco’s fields contain about 15% of the world’s proven Crude Oil reserves The 1st independent audit of Saudi Aramco’s Crude Oil reserves has confirmed the state Oil company’s own figures, sources familiar with […]
Aramco IPO to Reveal Extent of Saudi Crude Oil Reserves Khalid al-Falih said 3rd parties would independently verify “reserves” disclosed to investors The planned listing of state-owned Oil giant Saudi Arabia will include information on the extent of the Kingdom’s reserves, according to reports. Saudi energy minister Khalid al-Falih said the IPO (initial public offering) […]
Saudi Crude Oil Exports at 7.622-M BPD in July $OIL The the Arab Kingdom produced a record high 10.673-M BPD in July Saudi Arabia’s Crude Oil exports rose in July as the kingdom pumped record high levels of Crude Oil, keeping the global market well supplied. The world’s largest Oil exporter has been maintaining high […]
GCC States See Record Oil & Gas Drilling As Rest Of World Falls Behind $OIL, $USO, $BHI The Arabian Peninsula accounts for nearly 30% of all active Crude Oil and Nat Gas drilling rigs outside of the US A record number of rigs are drilling for Oil & Gas on the Arabian Peninsula even as […]
