RevPages

Saudi Aramco’s Post-IPO Tax Linked to Oil Price

by Forbes Middle East Forbes Middle East - Business News
Saudi Aramcos CEO Amin Nasser has revealed that following the companys initial public offering later this year, the amount of tax it pays on oil revenue will be linked to the price of oil.
Recommended Features
  • Saudi Aramco
  • IPO
  • Amin Nasser
Learn more about Saudi Aramco’s Post-IPO Tax Linked to Oil Price»

Review on Saudi Aramco’s Post-IPO Tax Linked to Oil Price

The royalty will remain for the time being at 20%, while later on there will be some alterations that would happen when the price changes in the market, said Nasser in an interview at the World Economic Forum in Davos, Switzerland.
Adjusting the royalty the company pays would help Saudi Arabia raise extra money if prices climb. The Kingdom already relies heavily on oil revenues, although its pushing economic diversification as part of its Vision 2030 plan.

Related to Saudi Aramco’s Post-IPO Tax Linked to Oil Price

Sponsor Ads


About Forbes Middle East Advanced   Forbes Middle East - Business News

103 connections, 0 recommendations, 247 honor points.
Joined APSense since, December 7th, 2017, From Dubai, United Arab Emirates.

Created on Feb 2nd 2018 00:17. Viewed 421 times.

Comments

No comment, be the first to comment.
Please sign in before you comment.