Saudi Arabia Transfers Aramco Shares Worth $80 Billion To State Fund
Estimates of long-run production charges for Saudi crude oil vary somewhat in the open literature, but a widespread figure is about $9 per barrel, or 18 % of the assumed $50 cost. If we assume that same 18 percent price figure for all Aramco production — that is a conservative quantity, as the mere price of the crude oil applied to make refined products would be practically 70 % of the $72 price tag — net revenues would be about $126 billion per year. Saudi Aramco has announced its intention to sell up to 5 % of itself to investors...