From CNBC Aramco’s hugely successful bond offering on Tuesday may be the final nail in the coffin for the Saudi oil giant’s much-anticipated and long-delayed stock market debut. Just three years ago, the Saudis cast the initial public offering for Aramco as the key to Crown Prince Mohammed bin Salman’s ambitious plan to diversify his nation’s oil-dependent economy. By offering
From Bloomberg Saudi Aramco, the world’s largest oil company, has received $60 billion in orders for its debut bond sale, kickstarting an offering with yields likely to fall in line or below Saudi Arabia’s sovereign debt. It’s rare for bonds of a state-owned company to yield less than the sovereign debt and the demand reflects intense investor appetite for high-quality
Aramco’s bond prospectus lifts the tent on unrivalled metrics By Richard Rostad, analyst, Oil & Gas 360 Saudi Aramco’s bond prospectus, released this week, provides a wealth of information on the largest oil company in the world. Stretching nearly 470 pages, the prospectus illustrates everything from expected natural gas demand in the kingdom to the dangers of missiles falling on
From Bloomberg The first official glimpse of Saudi Aramco’s financial performance confirms the state-run oil giant can generate profit like no other company on Earth: net income last year was $111.1 billion, easily outstripping U.S. behemoths including Apple Inc. and Exxon Mobil Corp. But accounts published before the firm’s debut in the international bond market also show Aramco — an organization that produces about
From Bloomberg Saudi Aramco may be the world’s most profitable company, but that likely still won’t be enough to persuade investors the energy behemoth is worth $2 trillion. New financial details, disclosed today by Moody’s Investors Service, show a company that paid $58.2 billion in dividends to the Saudi government last year. Working back from that, the valuation would be closer to
From Bloomberg Saudi Aramco obtained the fifth-highest investment grade rating at both Moody’s Investors Service and Fitch Ratings as the world’s largest oil producer prepares for its debut dollar bond offering. Moody’s rated the oil giant at A1, while Fitch assigned it A+, both with stable outlook. The state-owned company has the same rating as the sovereign from both Moody’s and
From The Wall Street Journal Saudi Aramco plans to issue a $10 billion bond as early as next week to help fund its acquisition of a majority stake in Saudi Arabia’s petrochemicals firm, people familiar with the matter said, shining a light on the financial performance of the world’s largest oil company for the first time. The bond would be
From The Wall Street Journal Saudi Arabia’s national oil company has agreed to buy a 70% stake in Saudi Basic Industries Corp., the kingdom’s petrochemicals firm, for $69.1 billion, giving Crown Prince Mohammed bin Salman’s agenda a massive jolt of cash. The merger of Aramco and Sabic, as the petrochemicals firm is known, would join the country’s two largest companies.
From Reuters Saudi Aramco’s delayed initial public offering is sidelining grand North American expansion plans at its U.S. refining subsidiary Motiva Enterprises LLC, people familiar with the matter said, at a time when its rivals grew their market share. After dissolving a partnership with Royal Dutch Shell PLC two years ago, Motiva set out to rebuild and boost market share
Aramco aims for world-scale petrochemical advances
From Bloomberg Saudi Aramco aims to become one of the world’s largest players in natural gas and the company is eyeing projects in Russia, Australia, America and Africa to kick-start a global business in the liquefied form of the fuel. “Gas is a major market and we want to be one of the largest players,” Amin Nasser, the chief executive
From Reuters Saudi Aramco’s chief executive said on Tuesday the oil industry is facing “a crisis of perception” and the views of some observers that the end of oil is near with the rise of electric vehicles are illogical and not based on fact. Amin Nasser, CEO of the national oil company of the world’s top crude-exporting country, told an
