Aramco Greasing Up For an IPO
Rob Barnett, Senior Analyst, Bloomberg Intelligence
Over the weekend, Crown Prince Mohamed Salman stripped a once-trusted adviser, Khalid Al Falih from his position as the Energy Minister. It is speculated that Falih was not very supportive of Aramco’s IPO plans. In his place, the Crown Prince appointed a half brother, Prince Abdul Aziz as the Energy Minister. If the IPO goes ahead, Saudi Aramco would be valued as high as 2 trillion US dollars, making it the largest listed company in the world. We speak to Rob Barnett, Senior Analyst with Bloomberg Intelligence for some insight into how these developments could impact the oil markets.
Presented by: Lyn Mak, Wong Shou Ning, Sharidz Abdullah