Saudi Arabia will reduce the overall tax rate paid by Aramco to make its 2018 initial public offering more appealing to investors, as it is expected to conduct a public offer of its shares in 2018.
Saudi Arabia’s King Salman launched a number of giant oil projects, worth a total of about $42.64b, under Aramco’s Oil Supply Planning and Scheduling (OSPAS) Center at Dhahran.
The Egyptian General Petroleum Corporation (EGPC) will launch a new tender in December in order to cover the domestic demand for petroleum products and makeup for halted Saudi Aramco shipments.
Saudi Arabia, raised pricing for December sales of all oil grades to Asia in order to take advantage of a brief increase in demand for Middle Eastern crude.