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Climate change seen as big risk for Aramco's IPO
today

Climate change seen as big risk for Aramco's IPO

Saudi's energy giant, Saudi Aramco has its IPO next month ahead of which climate change and decline in the demand for fossil fuels are seen as key risks. "Climate change concerns and impacts could reduce global demand for hydrocarbons and hydrocarbon-based products and could cause the company to incur costs or invest additional capital," says Aramco. The largest supplier of hydrocarbons will reveal the price of its shares on Sunday.

China might invest upto $10mn in Aramco's IPO
Nov. 7, 2019

China might invest upto $10mn in Aramco's IPO

According to the sources, China is planning to invest $5 billion to $10 billion in the oil giant Aramco's planned IPO. State-owned oil producer Sinopec and sovereign wealth fund China Investment Corp are among the parties who have been discussing to buy stock in the offering. But the lineup of investors and investment size will finally depend on the Chinese government.

Aramco to go public
Nov. 4, 2019

Aramco to go public

Saudi Aramco has started its Initial Public Offering (IPO). Aramco has also shared a few specifics on the number of shares to be sold, pricing or the date for a launch. The company could offer 1%-2% of its shares on the local bourse. Its Chairman said, "Today is the right opportunity for new investors to reap the benefits of Aramco’s ability to achieve value, and boost it on the long-term”.

Saudi Aramco to revive the mega IPO
July 3, 2019
Source: Energy Voice

Saudi Aramco to revive the mega IPO

Saudi Aramco is planning to restart its mega IPO. But the plan will still face some hurdle, the major one being achieving the $2 trillion valuations. Meanwhile, Saudi Crown Prince wants Aramco to be listed in New York and insisted that the IPO takes place in 2020 or 2021. It was in 2016 that the IPO project was announced for the first time as a part of the Vision 2030.

Saudi Aramco enters into fuel retailing
Dec. 27, 2018
Source: Reuters

Saudi Aramco enters into fuel retailing

In a statement released yesterday, state-owned Saudi Aramco informed about launching a domestic fuel retailing subsidiary, Saudi Aramco Retail Co, in order to expand into downstream businesses. Through the newly established entity, the oil major aims to create a network of filling stations within Saudi. While plans of making an IPO were halted this year, the new retail subsidiary could help Riyadh to go ahead with an IPO in Aramco.

Saudi Arabia awards 40-year concession to Aramco
Aug. 29, 2018
Source: Energy Voice

Saudi Arabia awards 40-year concession to Aramco

Saudi Aramco has been awarded a 40-year franchise by Saudi Arabia to explore and exploit the hydrocarbon reserves of the kingdom. Although Saudi Aramco has put IPO on hold, Saudi’s oil minister commented that the kingdom is “committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum.” The concession also includes 20-year extension option.

Aramco keeps IPO on a hold
Aug. 23, 2018
Source: World Oil

Aramco keeps IPO on a hold

According to sources, Saudi Arabian Oil Co. has shifted its focus to buying the strategic stakes in Saudi Basic Industries Corp., a chemical giant, while keeping its IPO on hold. Furthermore, Aramco has written to some of its advisors asking them to suspend the work for now. In January 2016, the IPO process started after the crown prince announced that Riyadh wants to sell its shares in Aramco

Al Falih - Saudi Aramco's to postpone IPO
May 27, 2018

Al Falih - Saudi Aramco's to postpone IPO

Al Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia has informed that the postponement of Saudi Aramco’s initial public offering (IPO) is “most likely”. The minister told reporters that, “we’re simply waiting for a market readiness for the IPO”

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