The last barrel of oil on Earth will be produced in Saudi Arabia. This was stated by Minister of energy of Saudi Arabia Khalid al-falih on the forum’s Future Investment Initiative, reports RIA Novosti.
Saudi Aramco has access to the quarters of the world’s fuel reserves and is the most reliable supplier of oil, said the Minister. “There is no doubt that the last barrel of oil on the planet will be produced here in Saudi Arabia, Saudi Aramco” — he concluded.
IPO Saudi Aramco, which planned to sell five percent stake in the company, is planned for the second half of 2018, said the head of the company Nasser Amin (Amin Nasser). It may be one of the largest in the world. As a result of the power of the Kingdom expects to raise up to $ 100 billion through the placement based on the total value of the company approximately two trillion dollars.
Saudi Arabian Oil Company or Saudi Aramco — the national oil company of Saudi Arabia and has close ties with the Royal family of the country.