Aramco’s IPO to Delay Further after Attack on Two Oil Plants, Cutting Production by Half!

Reporter has stated that Saudi Arabia officials are in the middle of a discussion to weigh on the decision of delaying the initial public offering (IPO) of Aramco after the attack at two oil plants has erased stated-owned enterprises Aramco’s output by more than half of the production.

Initially, it was said that Aramco had planned to raise its market capitalization to 2 trillion dollars before putting the company into NYSE from the current 1.5 trillion dollars of market capitalization, but the plan could have changed after the attack. Currently, Aramco might have to reschedule the IPO until it can fully recover the production to its normal levels.