DUBAI: Saudi Aramco, the world’s largest oil company, posted $224 billion in earnings before tax last year, Fitch Ratings said Monday, as the secretive giant opens its accounts for the first time. <\/p>\n
Fitch assigned Aramco its first-ever credit rating — a stable A+ — as the state oil giant prepares to sell bonds to help finance the purchase of a majority stake in Saudi petrochemicals behemoth SABIC. <\/p>\n
The huge deal gives Crown Prince Mohammed bin Salman’s ambitious reform programme aimed at diversifying the economy a massive cash boost. <\/p>\n
On Thursday, Aramco said it was buying a 70 per cent stake in SABIC for $69.1 billion, effectively merging the kingdom’s two largest companies. <\/p>\n","protected":false},"excerpt":{"rendered":"
DUBAI: Saudi Aramco, the world’s largest oil company, posted $224 billion in earnings before tax last year, Fitch Ratings said Monday, as the secretive giant opens its accounts for the first time. Fitch assigned Aramco its first-ever credit rating — a stable A+ — as the state oil giant prepares to sell bonds to help finance the purchase of a majority stake in Saudi petrochemicals behemoth SABIC. The huge deal gives Crown Prince Mohammed bin Salman’s ambitious reform programme aimed at diversifying the economy a massive cash boost. On Thursday, Aramco said it was buying a 70 per cent stake […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-267596","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/267596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=267596"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/267596\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=267596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=267596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=267596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}