Saudi valuation of Aramco inflated: poll
Saudi Arabia Only 24% of the responders valued Aramco at over USD 1.5 trillion, according to figures published by Reuters, while the majority – 39% – said its market value would be between USD 1 trillion and USD 1.5 trillion. Another 36% saw Aramco’s market capitalisation at under USD 1 trillion.
The IPO faces significant challenges, including the 85% tax rate and 20% royalty rate the firm currently pays to the government, and the poll comes as Saudi Arabia is reportedly considering two major options to restructure Aramco ahead of the IPO into a specialised international oil company or as a global industrial conglomerate.
In recent weeks, speculations about the IPO have grown, with some analysts expecting it to be postponed until 2019 or later.
Recent Posts
UK allows oil exploration in North Sea wind project zones
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy enters Namibia’s Orange Basin
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Chariot starts gas drilling campaign in Morocco
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More