QuickTake: Aramco’s Profits Shrouded in Secrecy

Aramco, the Saudi Arabian oil giant, holds a significant portion of the world's petroleum reserves and produces more crude oil than the top four publicly traded companies combined. Despite its valuation exceeding $2 trillion, its profits remain undisclosed. However, a potential IPO could change this, possibly surpassing Alibaba's record IPO by raising over $100 billion. This move aims to bolster Saudi Arabia's sovereign wealth fund, crucial for economic diversification and job creation. Historically, Aramco has been pivotal in Saudi Arabia's economic growth, contributing nearly 90% of government revenue. As the world anticipates a shift in energy sources, Aramco's IPO could redefine the future of petroleum, aligning with Saudi Arabia's vision for a post-oil economy.

What percentage of the global petroleum reserves does Saudi Aramco sit atop?

What is the estimated amount that the planned sale of 5% of Aramco could raise?

What are the sectors that Deputy Crown Prince Mohammed bin Salman aims to create jobs in?

In what year did explorers from the Rockefeller family's Standard Oil empire first strike oil in Saudi Arabia?

What is the significance of the IPO of Aramco in the context of Saudi Arabia's economy?