Aramco announces IPO plans

Big news from Aramco though it has been in the pipeline for some time. Interesting take by the company that there is “pessimism around oil, claiming it is the chemical industry where the future lies”. True about the chemistry and applications are changing but the IPO signals diversification to other businesses one of which I would suspect will be new energy sources. Question for potential investors: Is it too little too late? Will their business diversification be a move towards a lower carbon economy and if so, will that shift be material? How will other majors respond to this market change? A fascinating time for oil majors. #sustainabledevelopmentgoals #governance #risk #climate Australian Institute of Company Directors

The #Kingdom of #SaudiArabia has embarked on an ambitious #reform #agenda which includes social reforms and the diversification of its resources. Aramco is the crown jewel, but there are challenges ahead in its IPO. KSA definitely needs to reduce its #dependency on oil and develop other sectors, but ARAMCO is key to this plan by #MBS. The opening up of the country earlier this year for #tourism with relaxations in dressing for #tourists and #oversight by the #State #Police is one of those reforms to attract outsiders to the otherwise #ultra #conservative, #closed state. But more needs to be done, and while MBS seems to be moving slowly, he seems to be moving in a very calibrated & calculated approach to assuage any internal threats by the #religious #right #wing. It will be interesting to see how much #social #reform will be piggy-backed on the #IPO & vice versa. Reform is much needed for the #rich state, which can actually develop itself into the #regional #leader and voice for the #Muslim #world in the #Persian #Gulf. #statesman #ministries #oil #aramco #deal #century #economics #business #OPEC

This is going to be a game changer. Curious to see what impact it will have on the regions business prospects. #middleeast #oilandgas

Things are moving fast here, a promising move forward... https://lnkd.in/geUvNiK