There is never a dull moment in the Desert Kingdom when looking at the ongoing economic changes taking place inside Saudi Arabia. The world’s largest oil company Saudi Aramco, the main revenue source for the Kingdom, is the latest source of intrigue for observers, with rumors that it is targeting a majority stake in one of the world’s largest petrochemical giants – SABIC. This move has been misunderstood by many analysts, and may actually be an ambitious attempt to counter the continuous delays that the planned Aramco IPO has faced. MBS’s advisors have come up with this strategy in order to restructure the Saudi economic base, provide the Kingdom with renewed power in the downstream sector, and address the much-needed additional funding for Saudi Arabia’s Vision 2030. Rumors that Saudi Aramco was looking to acquire SABIC began with suggestions that the oil giant would acquire a minority stake in […]