Chalk one up for MbS
The Aramco IPO may fall short of his talismanic figure, but an anticipated result of the largest ever public offering is a rare win for the prince
The timing of the upcoming Saudi Aramco IPO looks peculiar in some ways, with Brent at $60/bl rather than $80/bl+, rising climate change activism and the Abqaiq attack exposing the vulnerability of Saudi infrastructure to armed drone and cruise missile attacks by non-state actors. But Crown Prince Mohammed bin Salman (MbS) is desperate for a victory after numerous foreign policy and public relations setbacks since becoming de facto ruler of the kingdom. To his credit, MbS appears to have put together a formula that could yet achieve the largest IPO in history, even if his much touted $2trn valuation for Aramco—twice the market worth of Microsoft, currently the world’s most valuable listed c
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US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
