A view shows Saudi Aramco's Wasit Gas Plant, Saudi Arabia December 8, 2014. Saudi Aramco/Handout via REUTERS
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
In the first of half of 2016, when crude averaged $41, the company made $7.2 billion in net income.Bloomberg News adjusted the cash flow generation by adding $21.4 billion that the Saudi government owes the company for services Aramco provides to the kingdom and state-owned companies.That compares with shareholder payouts of $6.4 billion by Exxon and $7.8 billion by Royal Dutch Shell PLC, even though those two combined produce less oil than Aramco.According to the data, the company's reported capital expenditures were $14.7 billion in the first half of 2017, well ahead of the $8 billion to $9 billion reported in the same period by Exxon and Shell.Using a rough measure of total oil, condensate and gas production, Aramco spent less than $4 per barrel to pump hydrocarbons, compared to similarly rough calculations of around $20 a barrel for Exxon and Shell.No matter what final valuation Aramco achieves, the first look at the company's books illustrates the tremendous deal the kingdom cut in 1976 to fully nationalize the company.
FOLLOW THIS ARTICLE