Why Saudi Aramco is going to be listed in NYSE, America

Why Saudi Aramco is going to be listed in NYSE, America

 

Timelines

April 12, 2017:OPEC officials said they concluded that everyone can co-exist at $60 a barrel.

Saud Arabia is looking for higher and stable oil prices ahead of its initial public offering of its state-owned oil company, Saudi Arabian Oil Co., known as Aramco. The kingdom is planning to offer up to 5% of the company in a public float that will finance a diversification of its economy.

“They need this price [$60] for the IPO of Saudi Aramco,” said a person familiar with Saudi oil policy.

OPEC officials said they are concerned about how $60 a barrel would affect shale producers. The cartel’s top official, Secretary General Mohammad Barkindo, traveled to Houston last month to meet shale producers and learn more about how they work and adapt to prices.

OPEC officials said they concluded that everyone can co-exist at $60 a barrel.

 

May 20-21, 2017: Jared Kushner’s Saudi Trip with Ivanka 

A White House official confirmed to Politico that Kushner and Ivanka Trump would be traveling with the President on Friday, and that they had received dispensation from a rabbi after consulting him about the trip. The official did not name which rabbi had given the couple permission to travel.

 

May 20, 2017: President Donald Trump signed a nearly $110 billion defense deal with Saudi Arabia’s King Salman bin Abdulaziz Al Saud on Saturday

The deal was finalized in part thanks to the direct involvement of Jared Kushner, the President’s son-in-law and senior adviser. He shocked a high-level Saudi delegation earlier this month when he personally called Lockheed Martin CEO Marillyn Hewson and asked if she would cut the price of a sophisticated missile detection system, according to a source with knowledge of the call.

 

August 20-2, 2017:Kushner, Greenblatt and Powell’s Middle East Trip

Kushner, Greenblatt and Powell have been heavily involved in a behind-the-scenes process to help Trump broker peace between the Israelis and Palestinians, which the first-year president has called the “ultimate deal.”

 

August 22, 2017: Saudi crown prince discusses Mideast peace with U.S. officials

DUBAI (Reuters) – Saudi Arabia’s crown prince met senior U.S. officials including presidential adviser Jared Kushner in Jeddah on Tuesday and discussed efforts to bring about peace between the Israelis and Palestinians, Saudi state news agency SPA said.

The U.S. delegation would meet regional leaders to discuss a “path to substantive Israeli-Palestinian peace talks”, a White House official said at the time.

Kushner was charged with helping to broker a deal between Israelis and Palestinians after Trump took office.

The president went to Saudi Arabia and Israel during his first post-inauguration trip abroad and has expressed a personal commitment to reaching a deal that has eluded his Republican and Democratic predecessors.

 

October 13, 2017: Trump: US will quit Iran deal without Congress

“As I have said many times, the Iran deal was one of the worst and most one-sided transactions the United States has ever entered into,” Trump said in a major speech at the White House.

 

October 27, 2017: oil Prices Finally Break $60

 

November 4, 2017: Trump on Aramco IPO before during his flight to Japan

But I want them to strongly consider the New York Stock Exchange or NASDAQ, or frankly anybody else located in this country, but those are the big two. So either NASDAQ or the New York Stock Exchange. I just spoke to the King a little while ago, and they will consider it.

 

November 4, 2017: Trump Tweets on Aramco IPO for America

 

November 6, 2017: Trump Tweets on Saudi Purge

 

December 5, 2017:Saudis Raise Crude Oil Prices To Asia

Saudis have raised the OSP for all their crude grades bound for Asia next month, Reuters’ source said.

 

December 6, 2017:President Trump officially recognized Jerusalem as the capital of Israel.

President Trump officially recognized Jerusalem as the capital of Israel.

 

December 26, 2017: price of Brent Crude spiked following news of an explosion at a Libyan crude oil pipeline

After a quiet overnight session, the price of Brent Crude spiked following news of an explosion at a Libyan crude oil pipeline that feeds the Es Sider sea terminal – home of the largest oil depot in Libya – a source from the Libyan National Army told The Libya Times Tuesday. The blast happened near 30km northwest of Marada, the source said.

 

December 29, 2017:Thousands of Iranian Protesters at the country’s regime

Demonstrators chanted anti-government slogans in several cities across Iran on Friday, Iranian news agencies and social media reports said, as price protests turned into the largest wave of demonstrations since nationwide pro-reform unrest in 2009.

 

January 5, 2018:Saudi Arabia converts Aramco into joint-stock company

Saudi Arabia’s state energy giant Aramco has been made a joint stock company in preparation for its initial public offering, planned to take place in the second half of this year. The company has a fully paid capital of US$16 billion (60 billion riyals) divided into 200 billion ordinary shares, and a board of eleven directors who will be in charge of the company’s listing.

 

January 8, 2018:Exclusive: Bankers invited to Saudi Arabia to pitch for Aramco listing roles

The stock market listing of the national champion is a central part of Crown Prince Mohammed bin Salman’s reform drive aimed at restructuring the kingdom’s economy and reducing its dependence on oil revenue.

 

January 10, 2018:Iranian Crisis Could Send Oil To $100

The protests in Iran were the main driver of the bullish sentiment in the oil market. Anti-government demonstrations swept across the country in recent days, and unlike the widespread protests in 2009, the current rallies are related to economic woes and are also taking place in more cities than just Tehran. “Growing unrest in Iran set the table for a bullish start to 2018,” the Schork Report said in a note to clients on January 2.

 

January 10, 2018:Saudi Bourse ‘Taking All Measures’ for Successful Aramco IPO

Aramco is set to appoint lenders including Goldman Sachs Group Inc., Citigroup Inc. HSBC Holdings Plc, JPMorgan Chase & Co and Morgan Stanley to help manage the sale, people familiar said this month.

 

Even though Saudis do not wish to list the Aramco in America because of JASTA. Trump administration has too much power over the Saudis. If the Saudis pull back from listing in America, it won’t be the crown prince who is going to list it but someone else will.

 

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