Aramco ploughs ahead

The jewel in the kingdom's crown is concentrating on downstream joint ventures, as it awaits the IPO go-ahead

High above the Riyadh rooftops, tall cranes form thin fingers of lattice patterns against the colourless early-morning sky. Many of the cranes are starting to move again after a year or more of remaining idle, a signal that the higher global oil prices of recent months have given the Saudi economy a boost. The economic slump meant that some contractors put projects on hold and others went bust. Today, the signs are that the worst of the cash-flow crisis is over. Saudi Arabia is determined to make sure that there's never a return to the dark days when oil was trading at less than $30 a barrel, triggering an economic crisis across the kingdom. It's why Saudi Arabia has been the driving force i