Saudi Arabia pushes ahead with IPO
The state firm is making the right noises about its privatisation, but the clock is ticking and market fundamentals could still shift
Lower oil prices have exposed Saudi Arabia's Achilles' heel and, as global environmental legislation tightens, the kingdom must deal with the problem. The 84-page Vision 2030 is designed to do just this, breaking the country's addiction to oil (and especially oil revenue). The part privatisation of Aramco, as anyone who follows global energy now knows, is part of the effort. A firm that currently provides 90% of government revenue, hope Riyadh's strategists, will evolve into an energy and industrial conglomerate operating under the umbrella of the Public Investment Fund (PIF), generating wealth indefinitely. Aramco will follow the right path in an age-old fork in the road-change, or be chang
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
