Tag Archives: Saudi Arabia

The zone was formally partitioned between Saudi Arabia and Kuwait in 1970.

Aramco spends a big proportion of its research and development budget on measures to counter the environmentally damaging effects of the oil and gas business.

Saudi Aramco shares advance for a third session -- though the market valuation remained below $2 trillion -- with investors focusing on the energy company’s inclusion in major international equity indexes this week.

The Saudi government intends to attract between $30-50 billion in new investments into renewables by 2030.

Aramco is worth more than the top five oil companies – Exxon Mobil. Total. Royal Dutch Shell. Chevron. and BP – combined.

The budget deficit will widen to 6.4% in 2020 from 4.7% in 2019 as the government earns less from oil.

Aramco shares will begin to be trade publicly on Saudi stock exchange Tadawul next week.

The IPO will be priced on Dec. 5. the same day OPEC meets in Vienna. The OPEC+ grouping holds talks on Dec. 6.

The offering to institutional investors. expected to raise about two thirds of the offering. closes on Dec 4.

The 177th Meeting of the OPEC Conference is expected to be held December 5. 2019.