LONDON — Saudi Arabia’s oil company, Saudi Aramco, said on Wednesday that it would buy a 70 percent stake in a state-controlled petrochemical giant for .1 billion, in what appears to be an alternative to a much-delayed initial public offering.
The deal, which involves three entities controlled by the Saudi government, largely accomplishes the primary goal for Aramco’s share offering — helping to finance an ambitious campaign to modernize the kingdom.
Aramco will buy the stake in the petrochemical company, the Saudi Basic Industries Corporation, known as Sabic, currently held by the country’s sovereign wealth fund. The remaining 30 percent of Sabic will continue to be listed on Saudi Arabia’s Tadawul stock exchange.
The transaction would give Crown Prince Mohammed bin Salman, who had been the main proponent of selling a portion of Aramco to public investors, a chunk of the cash he needs to diversify the Saudi economy, which is heavily dependent on oil. The prince hopes both to buffer the economy from oil price fluctuations and invest in industries that will provide income for the kingdom if demand for its oil wanes.
In addition, Aramco’s acquisition of a controlling stake in Sabic is expected to attract less public scrutiny than a stock offering.
The deal “gives the crown prince what he wanted,” said F. Gregory Gause III, professor of international affairs at the Bush School of Government and Public Service at Texas A&M University. “It is certainly more convenient than having to raise cash through an I.P.O. that would have required opening up all of the books of Aramco.”
The stake that Aramco is buying is held by the Public Investment Fund, which Prince Mohammed has designated as a vehicle for carrying out his modernization plans. The transaction will convert the fund’s holding into cash, allowing it to make other investments.
The share sale “will unlock significant capital” for the fund’s investment strategy for contributing to “sectoral and revenue diversification of Saudi Arabia” the fund’s managing director, Yasir Al-Rumayyan, said in a statement.
How Aramco will finance what it called “a private transaction” is not clear, though the company would most likely borrow billions of dollars. This deal could wind up being at least a kind of consolation prize for JPMorgan Chase, Morgan Stanley and other investment banks that had been advising Aramco on its public offering. These institutions had shifted to working on the Sabic transaction once the I.P.O. was delayed.
The bonds Aramco sells to buy the Sabic stake are expected to generate a gusher of fees for the banks. The deal would also require some disclosure of Aramco’s operations.
Additionally, the banks would remain in Saudi Arabia’s good graces in case the government takes Aramco public in a few years.
Analysts say that buying a giant petrochemical company like Sabic also fits with Aramco’s own plans to diversify. The company has been pumping money into petrochemicals, betting that demand for plastics will grow faster than for fuels like gasoline in a world increasingly concerned about climate change.
“This is Saudi Aramco’s climate hedge,” said Jim Krane, author of “Energy Kingdoms,” a book on the Persian Gulf. While some countries have shrugged off warnings about being overly reliant on the oil industry, he said, climate change is making “petro-states get serious about diversifying their economies.”B:
福建31选七开奖结果【只】【见】【最】【为】【薄】【弱】【的】【地】【方】【出】【现】【了】【一】【条】【裂】【缝】。 【而】【高】【甸】【手】【上】【牵】【着】【怪】【的】【绳】【突】【然】【消】【失】【了】，【那】【个】【小】【黑】【怪】【甩】【了】【甩】【身】【上】【的】【雨】【水】【向】【她】【们】【做】【了】【个】【辑】【最】【后】【跑】【回】【了】【树】【林】【里】。 “【走】【吧】！”【慕】【言】【说】【完】【首】【先】【跨】【了】【出】【去】，【其】【余】【几】【人】【不】【再】【犹】【豫】【也】【都】【跟】【了】【上】【去】。 【果】【然】【过】【了】【这】【里】【她】【们】【就】【回】【到】【了】【曲】【阁】，【不】【过】【这】【次】【倒】【不】【是】【空】【无】【一】【人】【了】，【前】【方】【端】【坐】【着】【一】【个】【白】【衣】【长】
“【不】【知】【道】【呢】，【我】【也】【没】【见】【过】。” 【看】【着】【自】【家】【闺】【蜜】【一】【脸】【花】【痴】【样】，【也】【不】【知】【道】【为】【什】【么】，【居】【然】【能】【单】【身】【到】【现】【在】。 “【行】，【那】【我】【们】【快】【下】【去】。”【拉】【着】【丽】【莉】【赶】【快】【往】【下】【跑】。 【虽】【然】【说】【宿】【舍】【没】【有】【电】【梯】，【但】【是】【因】【为】【我】【们】【是】【跑】【着】【过】【去】【的】，【所】【以】【很】【快】【就】【到】【了】，【一】【眼】【看】【过】【去】【就】【看】【到】【了】【欧】【阳】【和】【那】【位】【我】【急】【匆】【匆】【想】【看】【见】【的】【他】。 【他】【和】【我】【想】【象】【的】【可】【能】【不】【太】【一】
【阳】【光】【大】【盛】，【坐】【在】【院】【子】【中】，【孔】【捕】【的】【脑】【袋】【中】【有】【阵】【阵】【刺】【痛】【袭】【来】。 【昨】【夜】【他】【数】【次】【从】【冥】【想】【状】【态】【中】【强】【行】【挣】【脱】【出】【来】，【拢】【共】【大】【约】【修】【习】【冥】【想】【法】【一】【个】【时】【辰】【的】【时】【间】。 【这】【些】【许】【的】【头】【痛】，【也】【算】【是】【小】【小】【的】【后】【遗】【症】【吧】。 【但】【相】【比】【于】【收】【获】，【这】【微】【弱】【的】【疼】【痛】【根】【本】【不】【算】【什】【么】，【修】【习】【冥】【想】【法】【期】【间】【所】【遭】【遇】【的】【凶】【险】【也】【是】【十】【分】【值】【当】。 【仅】【是】【修】【行】【了】【些】【许】【时】【间】，【孔】
【在】【宁】【和】【蕴】【和】【宁】【莎】【莎】【心】【目】【中】，【父】【亲】【和】【母】【亲】【是】【最】【恩】【爱】【的】。【他】【们】【子】【女】【从】【五】【岁】【开】【始】，【就】【很】【独】【立】【了】。 【自】【己】【上】【洗】【手】【间】【擦】【屁】【股】，【自】【己】【独】【立】【睡】【觉】。 【他】【和】【姐】【姐】【莎】【莎】【从】【五】【岁】【开】【始】，【自】【然】【而】【然】【独】【立】【分】【房】【睡】。 【宁】【和】【蕴】【四】【岁】【半】【的】【时】【候】，【许】【渺】【渺】【就】【已】【经】【通】【过】【看】【绘】【本】【的】【方】【式】，【或】【者】【别】【的】【方】【式】，【给】【他】【灌】【输】【分】【房】【睡】【的】【想】【法】。 “【米】【糕】【啊】，【你】【看】【小】福建31选七开奖结果【卫】【安】【城】【全】【城】【出】【动】【卫】【队】，【赶】【往】【仕】【青】【山】【救】【驾】，【但】【无】【一】【例】【外】【地】【被】【不】【明】【身】【份】【的】【百】【姓】【及】【可】【疑】【人】【员】【以】【各】【种】【理】【由】【拦】【截】，【仕】【青】【山】【一】【时】【之】【间】【成】【了】【孤】【岛】，【帝】【后】、【王】【爷】【与】【朝】【中】【重】【臣】【皆】【被】【困】【住】，【上】【面】【的】【人】【下】【不】【来】，【外】【面】【的】【人】【进】【不】【去】。 【太】【子】【下】【落】【不】【明】，【朱】【邢】【湛】【暗】【中】【派】【出】【人】【手】，【几】【经】【周】【转】【也】【不】【得】【消】【息】，【此】【时】【朱】【邢】【湛】【的】【脸】【色】【阴】【沉】【的】【吓】【人】，【他】【从】【未】【想】【过】，
【地】【球】【太】【阳】【纪】【元】710【年】【在】【人】【类】【面】【临】【着】“【资】【源】【枯】【竭】”【的】【危】【机】【下】，【联】【合】【了】【人】【类】【所】【有】【的】【科】【学】【家】【共】【同】【研】【发】【出】【的】【超】【光】【速】【引】【擎】。 【这】【台】【引】【擎】【被】【安】【装】【在】【一】【个】【带】【着】【人】【类】【全】【部】【的】【希】【望】【宇】【宙】【飞】【船】【上】，【这】【艘】【飞】【船】【名】【为】“【希】【望】【号】”【是】【目】【前】【唯】【一】【一】【艘】【能】【够】【搭】【在】【超】【光】【速】【引】【擎】【的】【飞】【船】。 “【希】【望】【号】”【则】【肩】【负】【着】【前】【往】【各】【大】【星】【系】【类】【地】【星】【系】【中】【寻】【找】【新】【的】【资】【源】【和】
【第】【二】【日】，【白】【逢】【苏】【早】【早】【的】【起】【来】【准】【备】【去】【上】【早】【朝】，【谢】【聆】【迷】【迷】【糊】【糊】【的】【坐】【起】【来】【看】【着】【白】【逢】【苏】【自】【己】【穿】【上】【朝】【服】。 【当】【白】【逢】【苏】【用】【衣】【服】【将】【最】【后】【一】【点】【身】【上】【的】【肌】【肤】【遮】【了】【去】【时】，【谢】【聆】【黏】【黏】【糊】【糊】【的】【眼】【神】【终】【于】【转】【到】【了】【白】【逢】【苏】【带】【着】【笑】【意】【的】【脸】【上】。 【白】【逢】【苏】【拿】【着】【腰】【带】【向】【床】【这】【边】【走】【来】，【将】【手】【里】【的】【腰】【带】【放】【到】【了】【谢】【聆】【手】【里】，【他】【低】【头】，【目】【光】【热】【切】【的】【看】【着】【谢】【聆】，【轻】【声】【哄】
【可】【以】【在】【我】【的】【作】【者】【名】【下】【找】【到】。 【女】【主】，【盗】【贼】【职】【业】，【穿】【越】【魔】【兽】【世】【界】【的】【故】【事】。 【简】【介】：【不】【为】【联】【盟】，【也】【不】【为】【部】【落】。 【为】【了】【我】【们】【心】【中】【的】【正】【义】，【为】【所】【有】【无】【辜】【者】【讨】【要】【一】【个】【说】【法】，【为】【那】【些】【被】【贵】【族】【漠】【视】【的】【平】【民】【争】【一】【口】【气】，【凡】【妮】【莎】.【范】【克】【里】【夫】【确】【立】【了】【一】【个】【小】【目】【标】，【我】【要】【先】【把】【暴】【风】【城】【推】【了】！