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Saudi Aramco’s Landmark IPO Is Costing The Kingdom Billions


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https://oilprice.com/Energy/Energy-General/Saudi-Aramcos-Landmark-IPO-Is-Costing-The-Kingdom-Billions.html

This huge guaranteed dividend payment of US$18.75 billion per quarter - US$75 billion for a full year – will have to be paid for through budget cuts over and above the US$15 billion in Aramco’s annual capital spending alluded to by Aramco’s chief executive officer, Amin Nasser, just after the first half profits figures were unveiled. This will take the total down from around US$40 billion to around US$25 billion. Further reports have stated that even this US$25 billion figure is set to be reduced by another US$5 billion, taking the total capital spending in this year from US$25 billion to US$20 billion. 

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