Saudi Arabia remains fully committed to the Aramco IPO despite last month’s devastating attack on key oil facilities. This week saw the firm release a corporate presentation in which it unveiled a planned $75bn annual dividend and a reduced royalty rate in a bid to push the energy giant’s valuation up to the fabled $2 trillion.
Shortly after the release of the presentation, Saudi Energy Minister Prince Abdulaziz bin Salman made his first visit to Russia since his appointment. Speaking at Russia Energy Week on 3 October, he said that the listing of Aramco was a key priority for the government. (CONTINUED - 681 WORDS)