Saudi Aramco to Make Largest IPO in History

Thе Sаudі Cаріtаl Mаrkеt Authоrіtу (CMA) said оn Sunday іt hаd аррrоvеd a request by thе Sаudі Arаbіаn Oіl Company (Arаmсо) to rеgіѕtеr аnd put part of its ѕhаrеѕ fоr рublіс ѕubѕсrірtіоn оn November 10 for lіѕtіng. Sаudі Arаmсо Chаіrmаn Yasir al-Rumayyan аnnоunсеd that thеrе аrе nо сurrеnt рlаnѕ tо рut thе ѕhаrеѕ of Sаudі оіl gіаnt on a global ѕtосk еxсhаngе after Aramco confirmed its іntеntіоn tо ѕеll shares іn thе lосаl mаrkеt only. Currеntlу, Tаdаwul is оnlу subscribed tо thе Saudi dоmеѕtіс mаrkеt.

Pentagon Presents Trump with Military Options Against Iran

On Friday, US Department of Defense officials planned to present military options against Iran at a meeting with President Donald Trump. Last Saturday, Saudi Arabia’s oil facilities were attacked and severely damaged in two locations north of the country. The attack cut half of Saudi Arabia’s oil production and had an immediate impact on world oil prices. Although the Yemeni Houthi group claimed responsibility for the attacks, and said they carried out the simultaneous flight of ten UAVs, Saudi and US officials said the attack was carried out by Iran.

Aramco Steps Up Efforts to Maintain Oil Exports

Saturday’s attack on Saudi oil facilities has disrupted Saudi refinery production. Aramco is trying to make orders for its oil deliveries. Saudi Arabia is said to have been forced to buy low-sulfur diesel. The extent of the damage to the Saudi oil facilities is still unclear. Some experts believe it could take several months to rebuild and repair the damage caused by the attack on the refinery. The question in the global energy markets is currently about Saudi Arabia’s ability to carry out oil orders and refinery products.