Saudi Aramco flop is a moment of grim truth for OPEC oil regimes on borrowed time
▻https://www.telegraph.co.uk/business/2019/11/20/saudi-aramco-flop-moment-grim-truth-opec-oil-regimes-borrowed
paywall : dommage, ça commençait bien !
The sale of the century has ended in farce. The modest sums raised from the ‘privatisation’ of Saudi Aramco will barely cover the Kingdom’s fiscal deficit for six months.
The $25bn haul will not make any impact on Prince Mohammad bin Salman’s Vision 2030, his theatrical plan to break oil addiction and diversify into everything from car plants to weapons production. Nor will it go far to launch NEOM, his robotic half-trillion dollar white elephant on the Red Sea.
