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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
Stock exchange

Mon, Dec 30, 2019

The Aramco IPO isn’t quite enough to realize MBS’s diversification ambitions

After significant delays and a number of setbacks, Aramco finally listed shares representing 1.5 percent of the company’s total value on the domestic Tadawul exchange. The $25.6 billion that the IPO raised is nothing to scoff at, but it still is not enough to fully realize MBS’ ambitions. Where does the IPO go from here?

EnergySource by Randolph Bell

Energy Markets & Governance Energy Transitions

Tue, Dec 24, 2019

Saudi failure to convict Saud al-Qahtani is glaring

For a purported lack of sufficient evidence, Saud al-Qahtani was not even brought to trial. This tells us one of three things: One, Saudi Arabia no longer values its relationship with the United States; two, the US intelligence community sees greater value in monitoring al-Qahtani’s activities than in seeing him imprisoned; or three, the Saudi court system is, impressively, more evidence-based than we knew.

New Atlanticist by Kirsten Fontenrose

Saudi Arabia

Wed, Dec 18, 2019

Cohen in Forbes: Saudi Aramco IPO Hits $2 Trillion Mark Amid Guarded Forecast

In the News by Atlantic Council

Energy Markets & Governance International Markets

Tue, Nov 26, 2019

Cohen in Forbes: Making History: U.S. Exports More Petroleum Than It Imports In September and October

In the News by Atlantic Council

Energy & Environment Energy Markets & Governance

Fri, Nov 15, 2019

Cohen in Forbes: Investors Evaluating Aramco IPO As Iran Claims Discovery Of New Oil Field

In the News by Atlantic Council

Economy & Business Geopolitics & Energy Security

Fri, Nov 15, 2019

A crisis of commitment in the Middle East. But whose?

While US actions are causing confusion about Washington's commitment, regional actions are also calling into question the region’s commitment to its relationship with the United States and to its own stability.

New Atlanticist by Kirsten Fontenrose

Middle East Politics & Diplomacy
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, Nov 5, 2019

Livingston quoted in Axios on Saudi oil

In the News by Atlantic Council

Energy & Environment Energy Markets & Governance
Saudi Aramco oil facility

Tue, Nov 5, 2019

Two frameworks for understanding the Aramco IPO

The recent announcement that the partial initial public offering (IPO) of Saudi Aramco is finally moving forward is either a cause for celebration or consternation, depending on your perspective. The divergence in views comes from the way in which market players and analysts understand the IPO and the role of Aramco in the Saudi economy.

EnergySource by Randolph Bell

Energy Markets & Governance Oil and Gas