Saudi Arabia’s financial woes mean its squeezing cash cow Aramco
Published 09 Sep,2020 via Bloomberg Politics & Policy - The world’s biggest oil company is getting squeezed by its main shareholder, the Saudi Arabian government.
Even with crude dropping to $40 a barrel this week and its cash flow plunging, Saudi Aramco is trying to pay a $75 billion dividend this year, almost all of it to the state. Concerns are mounting, including among global fund managers who bought into the company during a record initial public offering last December, that Aramco is putting strategic projects on ice and racking up debt too quickly.
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Matthew Martin