Saudi Arabia is floating the idea of going public with their nationalized petroleum company, Saudi Aramco.
Aramco is the largest private company in the world. Going public with it would make it the largest initial public offering in history. As a public company, Aramco could easily be the largest public company in the world.
There’s more oil made each day than consumed. There’s too much oil in the world and OPEC lost control. Saudi Arabia’s in a budget deficit.
Does any of that make sense? Does putting the world’s largest, most profitable, and wholly owned company on the market make sense? What does that say about Saudi Arabia’s thoughts on the growing consensus that peak oil was hit a couple years ago?
How does this not come off as anything but a just-in-time cash-in?
Why would Saudi Arabia sell ownership of its money machine?
Why would anyone sell a working money machine?