{"id":388021,"date":"2020-12-05T10:46:46","date_gmt":"2020-12-05T05:16:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=388021"},"modified":"2020-12-05T11:09:37","modified_gmt":"2020-12-05T05:39:37","slug":"saudi-aramcos-ipo-birthday-party-crashed-by-the-uae","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramcos-ipo-birthday-party-crashed-by-the-uae\/","title":{"rendered":"Saudi Aramco&#8217;s IPO birthday party crashed by the UAE"},"content":{"rendered":"<p>The word \u201cpandemic&#8221; didn\u2019t appear among the risk factors in the prospectus for the world\u2019s biggest IPO, Saudi Aramco\u2019s, which marks its first anniversary this weekend. It turns out that didn\u2019t matter: Despite Covid-19\u2019s savaging of the oil market, shares of Saudi Arabian Oil Co. now trade 12% higher than where they debuted. Others haven\u2019t fared so well.<\/p>\n<p>To put that gain in perspective, the $200 billion or so added to Aramco\u2019s market cap during the worst-ever slump in oil demand is bigger than the current market cap of Exxon Mobil Corp.<\/p>\n<p>Yet the unusual nature of that resilience makes it weaker than it appears. And this is reinforced by the coincidence of the anniversary with a meeting of OPEC+ that was overshadowed by disagreement between Saudi Arabia and the United Arab Emirates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The word \u201cpandemic&#8221; didn\u2019t appear among the risk factors in the prospectus for the world\u2019s biggest IPO, Saudi Aramco\u2019s, which marks its first anniversary this weekend. It turns out that didn\u2019t matter: Despite Covid-19\u2019s savaging of the oil market, shares of Saudi Arabian Oil Co. now trade 12% higher than where they debuted. Others haven\u2019t fared so well. To put that gain in perspective, the $200 billion or so added to Aramco\u2019s market cap during the worst-ever slump in oil demand is bigger than the current market cap of Exxon Mobil Corp. Yet the unusual nature of that resilience makes [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-388021","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/388021","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=388021"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/388021\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=388021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=388021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=388021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}