World’s most profitable Aramco has decided to sell its shares
World’s most profitable Aramco has decided to sell its shares|Aramco Why the world’s most profitable oil company in market share? The world’s most profitable company, Aramco, has confirmed that the company will be an IPO and its shares will be registered on the Riyadh Stock Exchange. It may be the world’s largest IPO, the first public offering. The Saudi Oil Company said Sunday that it intends to be listed on the Riyadh Stock Exchange. The company is a government company in Saudi Arabia and will decide the initial or launch price of the IPO according to the investors’ registration and their interests. Business sources believe that one or two percent of the company’s shares can be offered in the market. Armco is worth the US $ 1.3 trillion the US $ 927 billion. The company said there are currently no plans to be listed on the foreign stock exchange. Aramco Board Chairman Yasser Elymyan said at a press conference. We will tell you about entering the international stock market in the coming days. The history of Saudi Aramco began in 1933 when a contract was signed between the Standard Oil Company of Saudi Arabia and California Chevron. The deal was related to the formation of a new company for the exploration of oil reserves and excavation of wells.
Then between 1973 and 1980, Saudi Arabia gradually acquired the company. According to the Energy Information Administration, Saudi Arabia has the largest oil reserves after Venezuela. At the same time, Saudi Arabia ranks second in oil production after the United States. In the case of oil, Saudi Arabia has a higher priority than other countries, because exports are relatively cheap. Armco is the largest referral company in the world, says David Hunter, director of market studies for energy management company Shander Electric. Shander said This is bigger than all other oil and gas companies. If you compare it to some of the world’s largest companies, Apple’s revenue in 2018 was $ 59.5 billion. Also, other oil companies like Royal Dutch Shell and Exxon Mobil are behind. It is the world’s largest oil company, producing 10 million barrels a day and generating revenues of the US $ 356,000 million. AeroWeek has its risks of investing, says Chris Beauchamp, chief market analyst at Aero Group. The company also has strategic and political risks. The threats surfaced in September this year when two Aramco plants were attacked. In Saudi Arabia, two companies’ plants were attacked by a drone, caught fire and caused further damage. However, the company s chief executive, Amin Nasir, called the company’s plans historic. Aramco is still the most trusted oil company in the world, he said. On the eve of the IPO announcement, Aramco said the recent attacks did not affect his business, financial condition and operations. For the past few years, Aramco has begun publishing its financial data. The company now organizes regular question-and-answer programs with journalists as well. Not only that, but Aramco also carried out drone attacks on journalists. The company has appointed Western women to some of the highest positions. The company says its purpose is to recycle crude oil in the long run. Citing responsibility for the environment, Aramco has said it will reduce the damage to the environment by using advanced technology. The company says locals, even divorced women, will be able to buy their shares and will be given a bonus for every 10 shares they buy.