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Saudi Aramco Saudi Arabia
Victor Kotsev
15 November 2019
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Aramco IPO part of a bigger plan

The Saudi state-owned producer is aiming for a formidable network of midstream and downstream assets

Saudi Aramco’s IPO is an integral part of the country’s Vision 2030, which is designed to channel the kingdom’s oil wealth into building a higher value-added economy. Engineering and petrochemicals development are key target areas of the masterplan, which includes dozens of large infrastructural and industrial projects worth hundreds of billions of dollars. “The success of Aramco's planned IPO is contingent on the company's ability to convince investors that it can generate value across the full product cycle,” says George Voloshin, a senior analyst at Aperio Intelligence, a UK-based strategic intelligence company.  “For now, there is too little to show for Saudi Aramco's diversification str

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