aramco’s green plans look rosy ahead of ipo
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Aramco’s green plans look rosy ahead of IPO

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleAramco’s green plans look rosy ahead of IPO

Riyadh - Arab Today

FOR those who may consider buying Saudi Aramco shares when the energy giant goes public in 2018, one factor to weigh is the company’s green plan.

The company wants to add more renewable and clean energy projects to its huge oil and gas portfolio. It has established a renewable office to develop all those projects. Saudi Aramco is already working on some initiatives in this field.
First, it already has a few projects such as the solar panels it installed to cover the parking lot in one of its administrative buildings in Dhahran, Saudi Arabia.
Secondly, the company wants to go beyond these small-scale projects and plans to create a local manufacturing base for renewables like solar.
Saudi Aramco Chief Executive Amin Nasser told Bloomberg in an interview in September 2016 that the company wants to look for international partners to boost local initiatives. Aramco wants to utilize the vast resources in the Kingdom, such as the silica that goes into the production of solar panels, he said.
This step reflects Saudi Aramco’s new strategy. It no longer wants to be an importer of technology and this aspect is applied to all kinds of activities it is involved in. For example, it is already in partnership to manufacture drilling rigs out of the new marine complex it is currently constructing on the shores of the Arabian Gulf.
Thirdly, the company may even bid later this year to build, own and operate local plants that will generate electricity from solar and wind powers, its acting senior vice president for downstream Abdulaziz Al-Judaimi said in Riyadh on April 17.
Fourthly, in addition to all of this, Saudi Aramco is already working on developing cleaner cars with more efficient engines that limit the amount of CO2 sent into the atmosphere.
Fifthly, Saudi Aramco is reportedly considering investments to the tune of around $5 billion in renewable companies and it has already appointed banks including HSBC, JPMorgan, and Credit Suisse to help it identify potential acquisition targets and advising on deals, Bloomberg reported on Jan. 29 citing people it did not name. The first investments under this plan could occur sometime this year, the report added.
So when the initial public offering (IPO) nears, Aramco might be able to offer investors a slice of its green power projects.
This could be good news for foreign investors who want to put their money into environmentally friendly companies.

Source: Arab News

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

aramco’s green plans look rosy ahead of ipo aramco’s green plans look rosy ahead of ipo

 



Themuslimchronicle, themuslimchronicle

GMT 06:29 2018 Sunday ,21 January

500 new trainees join US-backed Syria border force

GMT 10:31 2017 Sunday ,20 August

the history of solar eclipses

GMT 16:36 2017 Tuesday ,05 December

Gulf Air launches Bahrain Tourist Visa Service

GMT 03:19 2012 Saturday ,15 September

FREEDOM

GMT 06:56 2014 Friday ,12 September

No winners in Gaza

GMT 22:30 2012 Monday ,16 July

Sudan ruling party says protests \'ridiculous\'

GMT 07:09 2012 Wednesday ,20 June

Sudan and South Sudan border tensions

GMT 12:02 2012 Tuesday ,17 April

What the Living Do

GMT 17:33 2017 Saturday ,25 March

Caceres recalled to Paraguay squad for Brazil clash

GMT 17:18 2017 Tuesday ,19 December

Bahrain weather forecast

GMT 09:35 2017 Sunday ,29 October

Actress Annabella Sciorra accuses Weinstein of rape

GMT 13:43 2017 Thursday ,16 November

People Magazine names Blake Shelton 'sexiest man alive'

GMT 18:10 2017 Monday ,17 April

GCC Secretary-General Condemns Syria Blast

GMT 13:15 2017 Wednesday ,15 February

Inherited the talent to draw on glass

GMT 14:35 2017 Saturday ,25 March

Dar Essalam to Host Two Golf Competitions

GMT 07:22 2016 Saturday ,09 July

Gunfire near presidential palace in South Sudan

GMT 10:42 2017 Wednesday ,16 August

Chinese teen Internet addict dies

GMT 13:51 2017 Thursday ,21 September

King Salman meets with former Turkish president

GMT 09:31 2017 Wednesday ,29 March

NPRA holds training course

GMT 08:18 2017 Thursday ,14 December

Twitter makes 'tweetstorms' easier

GMT 17:19 2012 Thursday ,12 January

New electric-car racing championships
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle