Saudi Aramco rated most profitable company 2018 - Vanguard News Nigeria

  • 📰 vanguardngrnews
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

Saudi Aramco rated most profitable company 2018 vanguardngr.com vanguardnews

The Aramco’s earning is however, before interest, tax and depreciation and amortization Fitch said on Monday. Aramco, as a fully state owned company’s ratings are in line with the credit rating of Saudi Arabia. The Kingdom has managed its resources by playing close to its chest, which many tried to pry into. Credit experts say Aramco could outweigh its international peers, but most of its assets are in Saudi Arabia and it is tightly linked to Saudi Arabia’s economic policies until recently.

Is Aramco’s perceived mystery over? An investment banker, Matthew R. Simmons, in his book, Twilight in the Desert, published in 2005, tried without success to unravel what appeared like a mystification of Saudi oil. Simmons in that publication, believed to have been culled information from technical papers presented to the Society of Petroleum Engineers about Aramco almost portrayed the extremities of Saudi Arabia’s oil fields.

Saudi Aramco has an extremely strong liquidity position, Moody’s said. As of the end of 2018, it had $48.8 billion in cash against $27 billion in reported debt. At the end of 2018, Aramco’s cash balances exceeded its balance-sheet debt, Fitch said.

The Saudis are determined to reinforce and diversify the capabilities of their economy, by transforming Aramco from an oil producing company into a global industrial conglomerate. Perhaps the Vision 2030 of Crown Prince Mohammed Bin Salmon, MBS may be doing the magic. His vision is to transform the Public Investment Fund into the world’s largest sovereign wealth fund and encourage major corporations to expand across borders and in global markets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

vanguardngr While NNPC can be referred to as the most unprofitable NOC within OPEC countries. Corruption has killed NNPC

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Saudi Aramco world's most profitable company in 2018 - Vanguard News NigeriaOil giant Saudi Aramco revealed Monday it made the world's biggest corporate profit last year, opening its secretive accounts for the first time as it prepares to raise funds from investors.
Source: vanguardngrnews - 🏆 5. / 75 Read more »

Aramco To Pay $69.1bn SABIC Acquisition In TranchesSaudi Aramco intends to pay for its 69.1 billion dollars acquisition of a majority stake in Saudi Basic Industries Corp’s (SABIC) in separate tranches, according to a presentation given by Aramco t…
Source: LeadershipNGA - 🏆 4. / 77 Read more »