Amin H. Nasser
,President and CEO,Saudi Aramco
The world’s largest oil and gas producing company continues to ride high on the magazine’s power list, on the basis of its clout and sway over the regional and global energy market.
Saudi Aramco, estimated to be worth $2tn, is presently preparing to sell a portion of its assets – a 5% stake which has the potential to dictate the course of the global oil industry, as well as take the financial market by storm. Amin H. Nasser, Aramco’s CEO and president, is at the forefront of it all.
While the Saudi giant is still considering various stock exchanges where an IPO – slated for H2 2018 – could be floated (reports suggest that multiple capital markets, both local and foreign, could host the share sale), Nasser has recently said, “There is a lot of work which is ongoing but everything is going as planned.”
Besides the stock listing, Aramco has been raising its profile as an organisation tasked with securing Saudi Arabia’s economic future – investing in energy assets and partnerships abroad, prioritising its In-Country Value strategy aligned to Saudi Vision 2030, boosting training and employment of the local workforce, and leading the initiative to help the Kingdom achieve a knowledge-based economy.
Being the KSA’s invaluable possession, Aramco is also playing a crucial and responsible role in stabilising crude oil prices, by reducing oil output to close to 10mn bpd, much lower than its actual production capacity, as part the OPEC/non-OPEC output reduction agreement.
