08 Jan 2016
(MENAFN) As part of a privatization drive to raise money in an era of cheap oil, Saudi Arabia’s government is looking into the possibility that it might sell shares in state oil Behemoth Aramco.
Accordingly, a sale could in the near future cover much of the huge state budget deficit which Riyadh is running because of low oil prices; which was at about USD100 billion as 2015 ended.
Furthermore, global investors have become more concerned about Riyadh’s ability to cope with low oil prices in the long run; as the riyal recently fell to a record low against the U.S.
Aramco is the world’s largest oil firm with crude reserves of about 265 billion barrels, over 15pct of all global oil deposits, and if it went public, it may become the 1st listed firm valued at USD1 trillion or more.
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more