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FINANCIAL NEWS
Saudi Aramco’s oil reserves confirmed by external-audit
28 Jan 2017
(MENAFN) According to sources, the first independent audit of Saudi Aramco’s oil reserves has confirmed the state oil company’s own figures, ahead of its planned share market listing next year.
As the listing expected to be the world’s biggest initial public offering (IPO), is a centerpiece of a Saudi Arabian government plan to transform the country by enticing investment and diversifying the economy away from oil.
Based on figures, Aramco’s fields contain about 15 percent of the world’s proven reserves. Any finding that the reserves are significantly above or below that could affect the company’s market value in the listing.
MENAFN2801201700450000ID1095221231
MENAFN2801201700450000ID1095221231
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