High Oil Prices Help Saudi Aramco Profits Soar To $88 Billion In First Half Of Year
Aramco, owned by the state, has sold a 1.five% stake in the business, pricing its shares before trading at 32 Saudi riyals, or what is $eight.53. Saudi Arabia’s state oil company, Saudi Aramco, is reckoned to be the world’s most important business with an estimated worth of $2 trillion. Additional shares have been sold at a later stage under a ‘greenshoe option’, bringing the total raised amount to $29.4bn. Crown Prince Al Saud stated that the possible stake sale in…