Currently known as the world’s largest company in the P&G industry in terms of crude oil and production reserves, Saudi Aramco emerged from a Saudi Arabian agreement with the U.S. company Standard Oil Company of California and years later, the Saudis bought the entire company.
It is known that its power is undoubttied the power saudi arabia. Considered the “mother” of all oil and gas companies, the Aramco is valued at $1.2 trillion, according to Bloomberg. In September, was surprised by an attack on Hijra Khurais, one of the largest camps saudi arabia, which produces about 1.5 million barrels per day.
However, amid much speculation, the state has begun to promoting with publications on their financial results, held questions and answers about the company and even took journalists to visit your facilities after the attacks.
In addition, in the first half of 2019, the company announced net income of $46.9 billion, proving highly profitable. Other aspect that draws attention is the cost of production. While the extraction of North Sea oil costs dearly due to its location to dozens of meters under water, oil in Saudi Arabia is relatively close to the Surface.
Thus, a great expectation of the market was generated when the Saudi government confirmed that it plans to list Saudi Aramco on the stock exchange values of Riyadh, which may become the largest initial public offering (IPO, in the world.ACESSE AS REDES DA PANORAMA OFFSHORE: