The oil market is buzzing with speculation — and for once, it has nothing to do with oil prices.
The world’s largest single producer of oil and Saudi Arabia’s most gleaming crown jewel, Saudi Aramco, is preparing to become a public company, and depending on who you believe, the valuation is touted to be anywhere between US$1-2 trillion.
That’s quite a difference and even at the lower-end of the range would put Aramco at the very top of world markets in terms of market capitalisation.
According to leaked documents obtained by Bloomberg, Aramco dwarfs all its Western competitors including Western oil majors such as Exxon, Chevron, Shell and British Petroleum (BP), as well as China’s big three: Sinopec, CNPC and PetroChina.
That’s quite a difference and even at the lower-end of the range would put Aramco at the very top of world markets in terms of market capitalisation.
According to leaked documents obtained by Bloomberg, Aramco dwarfs all its Western competitors including Western oil majors such as Exxon, Chevron, Shell and British Petroleum (BP), as well as China’s big three: Sinopec, CNPC and PetroChina.
Written by George Tchetvertakov
Published by Small Caps
