damirUSBiH + 327 DD April 13, 2018 Saudi Aramco, the world’s largest oil producer, made $33.8bn in net income in the first six months of 2017, according to a media report citing details of the Saudi state energy giant’s finances. The numbers, revealed by Bloomberg, would be the first glimpse into the company’s accounts ahead of a planned initial public offering. According to the report, Saudi Aramco paid the Saudi government a total of $58.4bn in the first half of 2017, including $18.5bn of royalties on its revenue and an additional $39.9bn in income taxes. Quote Share this post Link to post Share on other sites
franco + 96 FM April 13, 2018 Hm... Nice. Keep going. First the Saudis wanted $60 per barrel(https://on.wsj.com/2IMMrid) Then they wanted $70. (https://on.wsj.com/2GSHjZe) Now they want $80. At some point, we'll be back to the Naimi days of $100 being a fair price for a barrel. Quote Share this post Link to post Share on other sites
Petar + 76 PP April 13, 2018 OPEC’s fair price is always above the current one. 1 Quote Share this post Link to post Share on other sites
Pavel + 384 PP April 13, 2018 One key question in that circle - how weak will USD be vs index in that $100 scenario? Quote Share this post Link to post Share on other sites
pinto + 293 PZ April 13, 2018 Not as weak as previous cycle if net-crude exporter by that time, though probably no high, positive rho either Quote Share this post Link to post Share on other sites
ThunderBlade + 231 TB April 13, 2018 Wonderful music to Crown Prince MBS ears! Quote Share this post Link to post Share on other sites
jpZelabal + 63 jj April 13, 2018 Profit = greed. In times of uncertainty they say only Allah knows where the oil prices would be, and when there is their mega ipo they trgt 80 dollars , where they were at 25 to 30 dollars. 1 Quote Share this post Link to post Share on other sites
damirUSBiH + 327 DD April 13, 2018 Profit and power. But things are not going in a good direction for the Middle East. Iran, Russia, Syria, Israel, Russia, U.S. ... smell of smoke and fire. Quote Share this post Link to post Share on other sites
Pavel + 384 PP April 13, 2018 Aramco is the most important lever in the hands of MbS. Mohammed bin Salman is hungry and ambitious. He has risen from relative obscurity to consolidate massive power in a short space of time, thanks to his father's rise to King in 2015. Already responsible for the war in Yemen, MbSalman now wants to sell shares in Aramco to fund his McKinsey-sponsored economic reform programme as well as a huge sovereign fund that will help Saudi Arabia sustain a future less dependent on oil. So far he has already shown.. Quote Share this post Link to post Share on other sites
franco + 96 FM April 13, 2018 Their accounts and profits were a strictly confidential secret. Until now. And, now we can see the Aramco is the world’s most profitable company. Quote Share this post Link to post Share on other sites
ThunderBlade + 231 TB April 13, 2018 And that will be the one rare glimpse we ever get into oil and its magical benefactors of goodwill. 1 Quote Share this post Link to post Share on other sites
Seleskya + 50 AS April 13, 2018 I like how that Aramco info was "leaked" ... haha. Nothing 'leaks' from Aramco. 1 Quote Share this post Link to post Share on other sites
TraderTate + 186 TS April 13, 2018 But if it wasn't 'leaked', why are the Saudi's saying the information is inaccurate? Quote Share this post Link to post Share on other sites
Rodent + 1,424 April 13, 2018 1 minute ago, TraderTate said: But if it wasn't 'leaked', why are the Saudi's saying the information is inaccurate? What better way to confirm it was a leak? Quote Share this post Link to post Share on other sites
Royalblood + 14 MJ April 13, 2018 but the key figures no one's mentioned are the production costs and the cash from operations. Cash from ops is over $52 billion, compared to Exxon's $16 billion. And that's because production is $4 to $5 per barrel ... Numbers certainly weren't 'leaked' without someone being ordered to do so. Obviously, it makes Aramco look good ahead of its public offering. 1 Quote Share this post Link to post Share on other sites
TraderTate + 186 TS April 13, 2018 so can it attract the targeted $2 trillion offering with these numbers? Quote Share this post Link to post Share on other sites
Rodent + 1,424 April 13, 2018 unknown, as I didn't see anything about reserves in these figures. 3 hours ago, TraderTate said: so can it attract the targeted $2 trillion offering with these numbers? Quote Share this post Link to post Share on other sites
Rodent + 1,424 April 13, 2018 3 hours ago, Royalblood said: Cash from ops is over $52 billion, compared to Exxon's $16 billion. And that's because production is $4 to $5 per barrel ... That $52 billion was for H1 2017, when oil was trading in the low $50s. Meanwhile, Shell's cash from ops was about half that figure--except they only produced a quarter of the oil Aramco did. Quote Share this post Link to post Share on other sites
BeamMeUp + 11 ES April 13, 2018 39 minutes ago, Rodent said: That $52 billion was for H1 2017, when oil was trading in the low $50s. Meanwhile, Shell's cash from ops was about half that figure--except they only produced a quarter of the oil Aramco did. So Aramco cost/bbl is $4, Shell is $20. But Shell is raking in more cash per barrel when its costs per barrel are 5 times that of Aramco? I don't understand. Quote Share this post Link to post Share on other sites
Missy + 43 MM April 13, 2018 5 hours ago, franco said: Hm... Nice. Keep going. First the Saudis wanted $60 per barrel(https://on.wsj.com/2IMMrid) Then they wanted $70. (https://on.wsj.com/2GSHjZe) Now they want $80. At some point, we'll be back to the Naimi days of $100 being a fair price for a barrel. We'll never be back to $100 oil. The costs no longer justify this, therefore producers will always be able to undercut each other on costs. 1 Quote Share this post Link to post Share on other sites
Rodent + 1,424 April 17, 2018 On 4/13/2018 at 12:08 PM, TraderTate said: so can it attract the targeted $2 trillion offering with these numbers? One analyst is saying oil would need to be at $120 per barrel to generate the 2 trillion Saudi thinks Aramco is worth. Also saw Aramco's disappointing downstream results. https://oilprice.com/Latest-Energy-News/World-News/Aramco-H1-2017-Downstream-Profit-Significantly-Trailed-Big-Oil.html Quote Share this post Link to post Share on other sites
TraderTate + 186 TS April 17, 2018 yep, there's another thread on that Quote Share this post Link to post Share on other sites
Ivy Chang 0 IC April 20, 2018 bin Salman may be hungry and ambitious; does he really understand people? When an IPO begins at $80/per share, how many average persons in the U.S. will buy Aramco shares? Maybe they'll buy 1 or 2 shares. Quote Share this post Link to post Share on other sites
TraderTate + 186 TS April 20, 2018 they want $80/barrel oil prices, not share prices, just to clarify. Quote Share this post Link to post Share on other sites
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