Saudi Aramco 2030

Examines Aramco's early history and analyzes how lessons from the past may influence the company's future

Assesses Aramco's current overarching national and international mandates as the primary agent of change for Saudi Arabia's economic development

Explores the privatization models adopted by national oil companies in both developing and developed economies to assess if similar models can be applied or adapted for Aramco Investigates how a planned Aramco IPO can take place and the critical issues faced in successfully realizing such an objective

Autorentext
Dr. Mohamed Ramady is a former Visiting Associate Professor in the Faculty of Finance and Economics, King Fahd University of Petroleum and Minerals, Dhahran, Saudi Arabia. He obtained both his BA and his PhD from Leicester University, UK, and a Postgraduate Degree from the University of Glasgow. He is a Fellow of the Chartered Institute of Bankers (UK). He specializes on regional economics, energy and the Saudi economy, as well as on money and banking. Among his publications is The Saudi Arabian Economy: Policies, Achievements and Challenges (Springer, New York, 2010) the GCC Economies: Stepping up To Future Challenges, (Springer, 2012) and Political, Economic and Financial Country Risk: Analysis of the Gulf Cooperation Council , (Springer, 2014), OPEC in a shale oil world : where to next ? ( Springer , 2016 ) and The political economy of WASTA : use and abuse of social capital networking , ( Springer , 2016 ). Prior to his academic career, Dr Ramady has over 25 years of senior level positions in banking, finance and investment in the Middle East and Europe with Citibank, Chase Manhattan, First City Texas Bancorp and Qatar National Bank. He also served as Senior Advisor to the Chairman of Qatar International Islamic Bank.

Klappentext

MOHAMED A. RAMADY

SAUDI ARAMCO 2030: POST IPO CHALLENGES

The decision by Saudi Arabia's Crown Prince Mohammed bin Salman to launch the country's ambitious and generational transformation program to wean the Kingdom away from oil under the Vision 2030 plan in 2016 was also an important milestone for Saudi Aramco. The Vision places an important role for the National Oil Company to play and enshrines some key objectives for the company:

· Transforming Aramco from an oil company to a global industrial conglomerate,

· Using the proceeds of the IPO to transform the Public Investment Fund into the world's largest Sovereign Wealth Fund,

· Involving Aramco in a wide range of industrial enterprises and partnerships with a focus on localized local content,

· Aramco to become a catalyst for transparency and investor accountability

The Author examines Aramco from its infancy in the 1930's under the concession agreement, to where it is today in preparing for its new Vision 2030 expanded mandate and the planned IPO. Topics discussed include a comparative analysis of the fortunes of four partly privatized National Oil Companies Statoil, Rosneft , Petrobras and Sinopec - and lessons learned from their experience ; Aramco's pivotal shift towards the Asian and Far East markets and its diversification into the refining and petrochemical sector; Saudi Arabia's energy efficiency and renewable energy program; Aramco's current structure and its key asset, its people ; required governance and other reforms to meet different international listing requirements , with their listing criteria examined in detail . Finally the Author estimates Aramco's IPO valuation under different oil prices and key assumptions and scenarios , as well as Saudi Arabia's future role in OPEC and its oil policy. The Crown Prince has placed high expectations on a successful Aramco IPO as the fate of the Vision 2030 and the company is entwined. Getting it wrong is not an option for both.

Mohamed Ramady is a former Visiting Associate Professor of Finance and Economics at King Fahd University of Petroleum and Minerals. He has written on OPEC and energy, the Saudi economy and GCC country risk analysis. He has also held senior positions with international financial institutions in the Arabian Gulf and Europe.

Inhalt

Chapter 1: Introduction and Overview.- Chapter 2: From Infancy to the Global Energy Warehouse: Looking Into the Past, Not a Guide for the Future.- Chapter 3: Not Your Average National Oil Company.- Chapter 4: Aramco's New Vision and Mission Mandate: Managing Expectations.- Chapter 5: From NOC's to Privatized Oil Companies: Comparative Country Case Studies.- Chapter 6: The IPO: Pricing, Listing, Governance and Options.- Chapter 7: Privatized Aramco and OPEC - One Foot In, One Foot Out?.- Chapter 8: Conclusions and Recommendations.