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Manufacturing facility

Thu, Jan 9, 2020

The Saudi Aramco-SABIC merger: How acquiring SABIC fits into Aramco’s long-term diversification strategy

Throughout 2019, financial markets have watched the planned Saudi Aramco initial public offering (IPO), which was finally launched in December. A quieter, but no less significant, story was Saudi Aramco’s acquisition of SABIC. Saudi Aramco strove to have a successful IPO, especially through increased transparency and diversification, and the SABIC acquisition was a key element of Saudi Aramco’s diversification strategy. Going forward, what does the merger mean for both companies, what is the new relationship between Aramco and SABIC, and what are the merger’s implications for the intricate relationship between the various bureaucracies and leadership in Saudi Arabia?

Issue Brief by Jean-François Seznec

Energy Markets & Governance Energy Transitions
Saudi Stock Exchange (Tadawul)

Wed, Nov 13, 2019

The Saudi Aramco IPO: A valuation saga

The Saudi stock exchange in Riyadh has approved the trading of Saudi Aramco’s shares on the local stock market, signaling a rapid start to the initial public offering (IPO). The various investment banks looking to place and sell the shares to their clients have given widely different, but generally low, value to the company and the shares.

EnergySource by Jean-François Seznec

Energy Markets & Governance Energy Transitions

Tue, Sep 17, 2019

Atlantic Council press call: Saudi Aramco attacks

Following the September 14 attack on two Saudi Aramco facilities, Atlantic Council experts Kirsten Fontenrose, Phillip Cornell, Ellen Wald, Jean-Francois Seznec, and Randolph Bell unpack the latest developments and offer insight into the ramifications for global energy markets, regional security, and the anticipated Aramco IPO.

Press and Members Call by Atlantic Council

Infrastructure Protection Oil and Gas

Full Bio

Jean-François Seznec is a senior fellow with the Atlantic Council Global Energy Center. He is also an adjunct professor at the McDonough School of Business at Georgetown University and at Johns Hopkins’ School of Advanced International Studies. He teaches classes on finance, energy, and politics in the Persian Gulf. He holds a MIA from Columbia University (1973), a MA, and his PhD from Yale University (1994). He has published and lectured extensively on chemical and energy-based industries in the Gulf, and their importance in world trade. He is interviewed regularly on national and international TV, radio, and newspapers. Dr. Seznec has twenty-five years of experience in international banking and finance, of which ten years were spent in the Middle East. Dr. Seznec is managing partner of the Lafayette Group, a US-based consulting and investment company. His research centers on the influence of the Arab-Persian Gulf, as well as political and social variables on the financial and oil markets in the region.