Tag Archives: Persian Gulf Countries

Aramco formally announced a plan this week to launch an IPO on its domestic exchange on Dec. 11.

The Silk Road Fund was set up in 2014 with $40 billion of initial capital.

Kuwait is currently the fourth-largest oil producer in OPEC.

Plans for the IPO were first announced in 2016 as part of Saudi Arabia’s Vision 2030 economic overhaul programme.

The increase in the oil and gas reserves in the UAE makes the OPEC Middle Eastern producer 6th in both oil and gas reserves in the world.

IPO is a key cornerstone in Saudi Arabia’s strategic plans to transform and modernise its national economy.

The oil giant will issue the IPO prospectus on November 9.

Bin Salman plans to use the revenues from the sale to finance his Vision 2030.

The initial public offering for state-owned oil company Saudi Aramco will come soon.

Saudi Arabia’s Energy Minister Prince Abdulaziz said his country is ready to make deeper cuts in oil output.