[rockdoc123]

$this->bbcode_second_pass_quote('', 'A')ny idiot (myself including) with eyes in their head can understand a simple picture.

[Plantagenet]

$this->bbcode_second_pass_quote('', ' ')Salman is ... not some gullible Arab in a dish dash as you might want to portray him.

[rockdoc123]

$this->bbcode_second_pass_quote('', 'W')e do know the WSJ is reporting

[Plantagenet]

$this->bbcode_second_pass_quote('', '')$this->bbcode_second_pass_quote('', 'W')e do know the WSJ is reporting

[rockdoc123]

$this->bbcode_second_pass_quote('', 't')here has been absolutely no sign of ARAMCO moving towards doing an IPO for almost two years now. Yes there was some activity and consultants were hired to look into ARAMCO's books and oil reserves when the IPO was announced back in 2016. But since then there's been nada zilch zero nothing. That is very consistent with the WSJ reporting, and contrary to your delusional conspiracy theory that the WSJ and other media sources are all fabricating their reports about ARAMCO.

[ROCKMAN]

Lots and lots of verbiage. Bottom line: there is no Aramco IPO. Might be one some day...might never be one. This discussion might be classified as "beating a dead horse". Except for the fact the horse never existed in the first place. LOL.

[onlooker]

$this->bbcode_second_pass_quote('', ' ') WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices
US diplomat convinced by Saudi expert that reserves of world's biggest oil exporter have been overstated by nearly 40% [/quote]
$this->bbcode_second_pass_quote('', ' ') The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.

[rockdoc123]

Is there some reason you are posting an article from 10 years ago?
Al-Husseini had a grudge against ARAMCO for some time.
At the time this article was written ARAMCO was at the start of the mega-projects. By 2011 they had commissioned all but one of those projects and spare capacity was said to be at 12.5 MMB/d. So the article was incorrect, SA was capable of 12 MMb/d with a bit of investment.

[onlooker]

$this->bbcode_second_pass_quote('rockdoc123', 'I')s there some reason you are posting an article from 10 years ago?
Al-Husseini had a grudge against ARAMCO for some time.
At the time this article was written ARAMCO was at the start of the mega-projects. By 2011 they had commissioned all but one of those projects and spare capacity was said to be at 12.5 MMB/d. So the article was incorrect, SA was capable of 12 MMb/d with a bit of investment.

[rockdoc123]

$this->bbcode_second_pass_quote('', 'I')t's gotten worse since then!

[Plantagenet]

$this->bbcode_second_pass_quote('', ' ')all ... the "other media sources" are simply reporting on the bogus WSJ report.

[rockdoc123]

$this->bbcode_second_pass_quote('', 'N')otice how the oil analyst in this CNBC segment actually snorts in disbelief that anyone could be so dumb as to think the ARAMCO IPO is going to happen.

[Plantagenet]

$this->bbcode_second_pass_quote('', 'K')ilduff said "he didn't think it was going to happen" ... they don't have appetite for disclosure

[rockdoc123]

$this->bbcode_second_pass_quote('', 'A')nd verily---so it has come to pass. Forsooth---the IPO has stalled, at least in part because KSA doesn't want to go through the kind of disclosure required for public listing in New York or other world markets. Thats exactly what I've been telling you. Thats what the WSJ has been reporting. Thats CNBC is reporting. Do you get it now?

[ROCKMAN]

And one more reason to appreciate the fact that no Aramco IPO exists today. From

https://www.rigzone.com/news/wire/saudi ... 8-article/


“Saudi Aramco is weighing tapping the international bond market for the first time to finance the acquisition of petrochemical giant Sabic, a move into global capital markets that could offer an alternative to an initial public offering, according to people familiar with the talks.

If Aramco goes ahead with an international bond -- potentially among the biggest ever done by a corporate issuer -- the sale would force the world’s largest oil producer to disclose its accounts to investors for the first time since nationalization four decades ago as well as many other details about oil reserves and operations.

The plans for a bond, likely to be combined with banks loans, are very preliminary but would allow the state-owned company to raise cash to pay the country’s sovereign wealth fund for the 70 percent stake it owns in Sabic, valued at about $70 billion. In turn, the Public Investment Fund would obtain the money it had initially hoped to raise from the Aramco IPO, the same people said, asking not to be named because the talks are private.”

Not many understand the exact nature of the Sabic deal: It is the KSA buying the Sabic interest from the KSA. Remember the KSA owns 100% of Aramco and 100% of is sovereign fund. And Aramco does not the monies to pay the KSA for Sabic. The Sabic interest the KSA apparent feels the need to liquidate. But doesn’t want the KSA govt to lose control of Sabic. Nor offer it for sale on the open market which might draw a value much lower then what the KSA says it’s worth. But, again, wants someone else then Aramco to fund the deal. Rather suspicious IMHO. Sounds like trouble in "River City". LOL

“A potential Sabic deal would affect the time frame for Saudi Aramco’s initial public offering," Amin Nasser, Aramco’s chief executive officer, told Arabiya television last week. Saudi officials had already lengthened the timeline for the Aramco IPO. Khalid Al-Falih, the country’s oil minister, said in June that while it would be nice to do the deal in 2019, the timing wasn’t critical. "There is a lot more at stake than just ticking a box and say, ‘We got this out of the way,’" he said.
The plan to sell shares in the state oil giant next year is itself a delay from an original plan for 2018. For almost two years, Saudi officials said repeatedly the IPO was "on track, on time" for the second half of 2018. Earlier this year, they admitted it would be delayed into 2019. And many observers — including members of the company’s senior leadership — doubt whether it will happen at all.”


Personally I don't consider senior leadership of Aramco not believing the Aramco will ever happen as BS. But perhaps there are those here who think they know more then the inside experts. Not uncommon in these here parts. LOL.

[ROCKMAN]

I see where you trying to go pstarr. But doesn't really work: "daddy" doesn't have the tooth money. He has to borrow it. And his credit card is maxed out. So he needs to find some fool who will issue him a new credit card with a $70 billion limit. No problem there, right? LOL

[rockdoc123]

$this->bbcode_second_pass_quote('', 'A')nd many observers — including members of the company’s senior leadership — doubt whether it will happen at all.”

[Plantagenet]

Another US oil analyst says the Saudis have retreated from doing the Aramco IPO

saudi-retreat-on-oil-ipo-

The bottom line is there is no Aramco IPO.

Cheers!

[rockdoc123]

$this->bbcode_second_pass_quote('', 'A')nother US oil analyst says the Saudis have retreated from doing the Aramco IPO

[onlooker]

$this->bbcode_second_pass_quote('', 'A')ll that anticipation, however, has now come crashing down as the Saudi government seeks the funds it might have gotten from an IPO through other avenues. So, what happened?
-First, oil prices rose significantly.
-Second, it's possible the Saudis now believe that investors would not be willing to pay as much as the Saudis want for a variety of reasons that include:

Concern about the stability of the Saudi regime (with whom investors would become business partners).
The high taxes and royalties paid by the company to the government.
The lack of diversification because almost all of Aramco's operations are in Saudi Arabia and thus subject to upheavals and conflicts in the Middle East.
The role of Saudi Arabia as an OPEC member and as the world's largest swing producer which leads it to adjust its output for geopolitical reasons and not merely to maximize profits for the company.
the most important reason the Saudis are reconsidering the IPO is that the government simply does not want to subject the company to an independent audit that would for the first time since 1980 determine whether the country has been telling the truth about its oil reserves.
Despite the fact that one of the world's largest producers of oil has not been audited in 38 years