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
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
