Bold Prince Holds Tight Grip On Cash Machine Saudi Aramco, The World’s Most Profitable Company

Bold Prince Holds Tight Grip On Cash Machine Saudi Aramco, The World’s Most Profitable Company

Staredown: Crown Prince Mohammed bin Salman gives an interview to the official TV channel in Riyadh, Saudi Arabia on April 28, 2021. On track for $80 billion in income this year, Saudi Aramco held onto its No. 5 spot in the Global 2000. Shares trade "in their own universe," as investors show faith in the vision of Crown Prince Mohammed bin Salman Crown Prince Mohammed bin Salman al Saud raised eyebrows when, in an April interview on Rotana Khalejia TV, he said that the Kingdom was in talks to sell an additional 1% stake in oil giant Saudi Aramco. The buyer was a "leading global energy company" he said, which would pay upwards of $18 billion for the stake. The most likely suspects are Sinopec or Petrochina, the oil champions of China, which buys 3 million barrels of Saudi oil a day. If and when this sale happens, it would add to the pile that MbS (as the crown prince is known) and the Saudi government has collected by selling slivers of the Saudi crown jewel. In December 2019, Aramco raised $29 billion in the IPO of 1. 75% of the company. In recent weeks a consortium led by EIG