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
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
