Middle East NOCs under pressure
Moves to privatise state energy firms in the Middle East have begun, but progress will be slow and patchy
The details of exactly where and how it's to happen are still keenly awaited. But already the planned initial public offering (IPO) of 5% of Saudi Aramco, the kingdom's giant energy firm, is grabbing all the headlines. International banks and law firms are tripping over each other as they jostle to become part of the action. The Aramco sale is an integral element in Vision 2030, the plan drawn up by Mohammed bin Salman, when he was deputy crown prince, to wean Saudi Arabia off its dependence on oil and boost the private sector. While unveiling the strategy in April 2016 he suggested that the company was worth $2 trillion to $3 trillion, meaning that the IPO could raise as much as $150bn. Alt
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
