Thursday, October 6, 2016

Saudi Aramco Prepares to Publish Financial Statements for the First Time

Saudi Aramco is preparing to give investors unprecedented access to its financial information, lifting the lid on the world’s biggest oil producer ahead of a planned initial public offering in 2018.

Saudi Arabia’s state-controlled oil company is busy overhauling its accounts so as to publish figures for its 2017 financial year in an industry-friendly format, said four people close to the company, according to The Financial Times.

Saudi Arabia decided to launch a Saudi Aramco IPO as a result of the collapse in oil prices which has squeezed the kingdom's finances.


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