Date: 6 months ago   Category: Crimea

Saudi Arabia has thought of market economy


The authorities of Saudi Arabia have limited period of validity of the license which allows the largest company of the country Saudi Aramco to extract exclusively oil, Financial Times writes. It can be the first step to economic reforms in the kingdom. Materials on teme00:01 — on July 18 zadnyuyusaudovsky Arabia has deceived Dali the whole world. I am guilty нефтьДо this time of Saudi Aramco possessed the termless license for extraction of the Saudi oil. Now her term is limited — according to the edition, 40 years. Sources of the newspaper assume that this formal change can aim to result local economy in the international standards including the relations of the largest companies with the power. Such step can attract investors to the preparing entry of Saudi Aramco into the exchange. The government considered also 20-year term for the license (as it is accepted around the world), but as a result has decided that it will negatively affect indicators of the company. On August 22 the Reuters agency with reference to the sources in imperious circles has reported that the IPO preparing since 2016 is cancelled. Later the Minister of Energy Khalid al-Falikh called this information speculation and has said that plans of the authorities remain in force. Entry of Saudi Aramco into the exchange has to become one of key stages in the large-scale program of reforms in Saudi Arabia which has received the name "Vision of 2030". The authorities expected to gain 100 billion dollars for the five-percent equity stake. It is more than important news in Film of Day Telegram-channel. Subscribe!

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