{"id":440686,"date":"2021-10-07T08:37:07","date_gmt":"2021-10-07T03:07:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=440686"},"modified":"2021-10-07T09:49:02","modified_gmt":"2021-10-07T04:19:02","slug":"saudi-aramco-hits-2-trn-valuation-on-back-of-higher-oil-prices","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-aramco-hits-2-trn-valuation-on-back-of-higher-oil-prices\/","title":{"rendered":"Saudi Aramco hits $2-trn valuation on back of higher oil prices"},"content":{"rendered":"<p>Saudi Arabia&#8217;s oil company Aramco reached a $2 trillion valuation as it hit near record levels Wednesday during trading hours.<\/p>\n<p>Its market cap value puts Aramco just behind Microsoft and Apple as the world&#8217;s most valuable company. It comes as crude oil prices climb to over $82 a barrel, the highest in seven years.<\/p>\n<p>Demand for energy is picking up, despite the ongoing coronavirus pandemic&#8217;s continued toll on travel and other key gas-guzzling sectors.<\/p>\n<p>Aramco is mostly owned by the government of Saudi Arabia, with just under 2% of the company publicly listed on the Saudi Tadawul stock exchange. Aramco was trading at around 37.6 riyals a share, or a few cents over $10 a share, by midday Wednesday before dipping to 37.2 riyals a share, or around $9.92 a share.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia&#8217;s oil company Aramco reached a $2 trillion valuation as it hit near record levels Wednesday during trading hours. Its market cap value puts Aramco just behind Microsoft and Apple as the world&#8217;s most valuable company. It comes as crude oil prices climb to over $82 a barrel, the highest in seven years. Demand for energy is picking up, despite the ongoing coronavirus pandemic&#8217;s continued toll on travel and other key gas-guzzling sectors. Aramco is mostly owned by the government of Saudi Arabia, with just under 2% of the company publicly listed on the Saudi Tadawul stock exchange. Aramco [&hellip;]<\/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":[135,130,169],"tags":[],"class_list":["post-440686","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/440686","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=440686"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/440686\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=440686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=440686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=440686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}