Saudi Aramco Could List Overseas
Posted on 02/27/2020
Oil giant Saudi Arabian Oil Company (Saudi Aramco) is beginning the ground work for an international stock listing. This is just months after having its domestic initial public offering. Saudi Aramco wants to be prepared if it gets a green light to list overseas. The listing would most likely happen after 2020, given current market conditions and the price of oil.
Saudi Arabia is also experiencing a shale revolution and has developed fracking using seawater. Saudi Aramco is working on the largest shale gas development outside of the United States to increase its domestic gas supply. Saudi Aramco is working with Schlumberger, Halliburton Co., and Baker Hughes Co. on the Jafurah shale gas field, which is near the Gulf coast.
