
"They need to build confidence - in addition to restoring production," one of the sources stated, making a reference to last Saturday's attacks by Yemen's Houthi Ansarullah movement on Aramco's Khurais and Abqaiq plants, which process and clean crude. Aramco officials had announced last year that the company would offer one percent of its shares for sale on the domestic stock market as early as November 2019.
The IPO had been expected as a first step for the company to sell five percent of stakes and raise at least $100 billion to help the Saudi government fund an ambitious plan for modernizing its economy and diversifying it away from oil. However, attacks on oil installations have been seen as a major blow to Crown Prince Mohammad bin Salman and his Vision 2030 plan.












Comment: Pepe Escobar notes in How Yemen's Houthis are bringing down a Goliath: And Phil Butler in The simple truth about the Yemen catastrophe writes: See also: