Chopping up Saudi Aramco
Selling part of the state-owned firm will be just the start of a broad divestment project that turns the firm into a huge holding company
KHALID al-Hussan, chief executive of Tadawul, the Saudi stock exchange, could scarcely hide his excitement. “This is a moment of history for all,” he said from the podium of a conference in Riyadh in May. “We used to laugh and wonder out loud whether Aramco would ever be listed. Now we are realising this.” The plan to sell off part of the kingdom’s energy firm is one of the most eye-catching parts of Riyadh’s new policy direction, encapsulated in Saudi Vision 2030. Crown Prince Mohammed bin Salman, explaining the strategy in a TV interview, said Aramco “is part of the key elements of this vision”. But it will be a very different Aramco from the one that Saudis know today. An evaluation of th
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
