Saudi Aramco’s 1 April bond prospectus has given analysts an unprecedented look into the firm’s operations (MEES, 5 April). This includes the growing importance of downstream and the financial impact of government’s subsidized fuel prices.
The prospectus for the planned $10bn bond, intended to help fund Aramco’s $69.1bn purchase of sovereign wealth fund PIF’s 70% stake in Sabic (MEES, 29 March), says that as of end-2018 Aramco had a global net refining capacity of 3.1mn b/d, making it the “fourth largest integrated refiner in the world.” Gross capacity was 4.9mn b/d. (CONTINUED - 986 WORDS)
