CURRENT AFFAIRS

Detailed explanation-1: -Saudi Arabia’s Crown Prince Mohammed bin Salman on Friday agreed that the initial public offering of state oil giant Aramco will be announced on Sunday, five sources familiar with the matter told Reuters.

Detailed explanation-2: -RIYADH: Saudi oil giant Aramco is proceeding with its plan for an initial public offering of its energy-trading unit, in a move that would be one of the largest share sales in 2022, Bloomberg reported citing people familiar with the matter. The listing is planned for the end of the year or early 2023, they added.

Detailed explanation-3: -Considered one of the largest companies in the world in terms of revenue in 2021, Saudi Aramco, with headquarters based in Dhahran, is a public petroleum and natural gas company.

Detailed explanation-4: -Saudi Aramco’s Luberef sets final IPO offer price at $26.3/shr.

Detailed explanation-5: -Saudi Aramco, also called Saudi Arabian Oil Company, formerly Arabian American Oil Company, Oil company founded by the Standard Oil Co. of California (Chevron) in 1933, when the government of Saudi Arabia granted it a concession. Other U.S. companies joined after oil was found near Dhahran in 1938.