Pakistan PM and President meet Saudi FM    Omani students swept away by floods, schools suspended nationwide    Heavy rain lashes in Eastern Province while near zero-visibility in Qassim and Riyadh    Dr. Al Rabeeah announces Kingdom's humanitarian plan for Sudan and neighboring countries    Board of Directors & corporate governance    World Bank raises its forecast of Saudi economy growth to 5.9%    US expects to hit Iran with new sanctions 'in the coming days' — Yellen    Supreme Court hears case that may impact Trump prosecution    Ukraine 'ran out of missiles' to thwart Russian strike on power plant, Zelensky says    AFC postpones Al Ain vs Al Hilal semi-final match due to weather conditions    Sydney church stabbing treated as 'terrorist act'    China's economy expands by a surprisingly strong pace in the first quarter of 2024    Riyadh Season becomes official partner of the World Boxing Council    Turki Alalshikh announces groundbreaking 5 vs 5 Riyadh Season bout featuring international boxing stars    Diriyah Biennale Foundation announces shortlist for AlMusalla Prize, set to revolutionize musalla architecture    Fourth Gulf Film Festival kicks off in Riyadh, scaling up Saudi movie industry Event extends over 5 days with the screening of 29 diverse films    China and USA shine at junior and cadet fencing world championships in Riyadh    Riyadh Season's 'Rumble' earns Sports Emmy nomination    Saudi film 'Norah' selected for Cannes Festival    JK Rowling reignites row with Harry Potter stars    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Aramco IPO will not include reserves
Published in The Saudi Gazette on 25 - 01 - 2016

An initial public offering of Saudi Aramco, the world's biggest oil company, could be on the local or international markets but would not include Saudi energy reserves, the company's chairman told Al-Arabiya television.
"The reserves would not be sold, but the company's ability to produce from the reserves is being studied," Khalid Al-Falih told the channel in an interview from Davos, Switzerland where the annual World Economic Forum was held last week.
Falih said there would be legal studies to make sure that what is offered is not the Kingdom's crude reserves "but the company's ability to convert the production of these reserves to a financial value that the owners can benefit from."
"The economic value of Saudi Aramco as a company is what will be offered. Naturally, the primary field of Saudi Aramco's work is managing the reserves of Saudi Arabia," Falih said.
"The reserves belong to the state but the company's ability to convert these reserves... into a financial value and at the same time for the company to have a portion of these profits will be part of the value of the company," he told Arabiya.
"All options are open ... the IPO could be on local or international markets," Falih added.
Aramco has crude reserves estimated at about 265 billion barrels, over 15 percent of all global oil deposits, so it could become the first listed company valued at $1 trillion or more if it went public, analysts have estimated.
In an interview with The Economist earlier this month, Deputy Crown Prince Muhammad Bin Salman, second deputy premier and minister of defense, said Riyadh might sell shares in Aramco as part of a privatization drive. — Reuters


Clic here to read the story from its source.