DOCSLIB.ORG

(Saudi Aramco) Prospectus a Joint Stock Company by Virtue of Council of Ministers Resolution No

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
(Saudi Aramco) Prospectus a Joint Stock Company by Virtue of Council of Ministers Resolution No IMPORTANT NOTICE IMPORTANT: You must read the following before continuing. The following applies to the International Offering Circular following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of the International Offering Circular. In accessing the International Offering Circular, you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from us as a result of such access. You acknowledge that the attached International Offering Circular is confidential and intended only for you and you agree you will not forward, reproduce, copy, download or publish the attached International Offering Circular (electronically or otherwise) to any other person. The International Offering Circular and the offer when made are only addressed to and directed at persons in member states of the European Economic Area (“EEA”) who are “qualified investors” (“Qualified Investors”) within the meaning of Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”). In addition, the International Offering Circular and the offer when made are only addressed to and directed at persons inside the United Kingdom who are (a) persons with professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (b) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order or (c) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000, as amended) in connection with the issue or sale of any securities of Saudi Aramco may otherwise lawfully be communicated or caused to be communicated (all such persons in (1) and (2) above being “relevant persons”). This International Offering Circular must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this International Offering Circular relates is available (i) in the United Kingdom, only to relevant persons and (ii) in any member state of the EEA, only to Qualified Investors, and such activity will be engaged in only with such persons. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY OTHER JURISDICTION, OTHER THAN THE KINGDOM OF SAUDI ARABIA, AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT AND APPLICABLE LAWS OF OTHER JURISDICTIONS. THE FOLLOWING INTERNATIONAL OFFERING CIRCULAR MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER AND ANY FORWARDING, DISTRIBUTION OR REPRODUCTION OF THE INTERNATIONAL OFFERING CIRCULAR IN WHOLE OR IN PART IS UNAUTHORISED. FAILURE TO COMPLY WITH THIS DIRECTIVE MAY RESULT IN A VIOLATION OF THE U.S. SECURITIES ACT OR THE APPLICABLE LAWS OF OTHER JURISDICTIONS. Confirmation of your Representation: By accessing the International Offering Circular, you shall be deemed to have represented to us that (1) (a) you are, or are acting on behalf of, a person that is purchasing the securities in offshore transactions outside the United States in reliance on Regulation S under the U.S. Securities Act or (b) a Qualified Institutional Buyer (“QIB”) (within the meaning of Rule 144A under the U.S. Securities Act); (2) if you are in the United Kingdom, you are a relevant person; (3) if you are in any member state of the EEA, you are a Qualified Investor; (4) the securities acquired by you in the offer have not been acquired on a non-discretionary basis on behalf of, nor have they been acquired with a view to their offer or resale to, any person in circumstances which may constitute or give rise to any offer of any securities to the public, other than their offer or resale to Qualified Investors in any member state of the EEA which has implemented the Prospectus Regulation; and (5) if you are outside the United States, United Kingdom and EEA, you are a person into whose possession this International Offering Circular may lawfully be delivered in accordance with the laws of the jurisdiction in which you are located. Under no circumstances shall the International Offering Circular constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale, would be unlawful. You are reminded that the International Offering Circular is accessible to you on the basis of your representation above and that you are a person into whose possession the International Offering Circular may be lawfully accessed in accordance with the laws of jurisdiction in which you are located and you may not, nor are you authorised to, deliver the International Offering Circular to any other person. If a jurisdiction requires that the offering be made by a licenced broker or dealer and any dealer or any affiliate of such dealer is a licenced broker or dealer in that jurisdiction, the offering shall be deemed to be made by such dealer or such affiliate in such jurisdiction. You have access to the International Offering Circular in an electronic form. You are reminded that documents transmitted via this medium may be altered or changed during the process of electronic transmission and consequently none of Saudi Aramco, the Selling Shareholder or the Joint Bookrunners (as defined in the attached), nor any person who controls them, nor any director, officer, employee nor agent of any of them or affiliate of any of them, accepts any liability or responsibility whatsoever in respect of any difference between the International Offering Circular distributed to you in electronic format and the hard copy version available to you on request from any of the Joint Bookrunners. Restriction: Nothing herein constitutes, and may not be used in connection with, an offer of securities for sale to persons other than the specified categories of institutional buyers described above and to whom it is directed and access has been limited so that it shall not constitute a general solicitation. If you have gained access to this transmission contrary to the foregoing restrictions, you will be unable to purchase any of the securities described therein. THE INTERNATIONAL OFFERING CIRCULAR IS IN PRELIMINARY FORM ONLY, IS NOT COMPLETE AND CONTAINS INFORMATION THAT IS SUBJECT TO COMPLETION AND CHANGE. NO OFFER OF SECURITIES WILL BE MADE AND NO INVESTMENT DECISION SHOULD BE MADE ON THE BASIS OF THIS INTERNATIONAL OFFERING CIRCULAR ALONE, BUT ONLY ON THE BASIS OF THE FINALISED INTERNATIONAL OFFERING CIRCULAR OR ON THE BASIS OF THIS INTERNATIONAL OFFERING CIRCULAR AS FINALISED AND COMPLETED BY ANY RELEVANT PRICING NOTIFICATION. You are responsible for protecting against viruses and other destructive items. Accessing this International Offering Circular is at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses and other items of a destructive nature. SUBJECT TO COMPLETION STRICTLY CONFIDENTIAL PRELIMINARY INTERNATIONAL OFFERING CIRCULAR DATED 9 NOVEMBER 2019 Saudi Arabian Oil Company (Saudi Aramco) This international offering circular (the “International Offering Circular”) has been prepared by Saudi Arabian Oil Company (Saudi Aramco) (“Saudi Aramco”) in connection with the initial public offering (the “Offering”) of the shares of Saudi Aramco (the rcular is not an offer to sell these hom it is unlawful. “Shares”), consisting of a sale by the Government of the Kingdom of Saudi Arabia (the “Selling Shareholder”) of a portion of the Shares (the “Offer Shares”). The Offer Shares are being offered at a price range of SAR to SAR per Share (the “Offer Price Range”). The Offering is being made outside the Kingdom of Saudi Arabia (the “Kingdom”) (the “International Offering”) to institutional investors (i) outside the United States in reliance on the exemption from registration provided by Regulation S (“Regulation S”) under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and (ii) inside the United States to persons reasonably believed to be qualified institutional buyers (“QIBs”) in reliance on Rule 144A (“Rule 144A”) under the U.S. Securities Act. Inside the Kingdom, the Offering is being conducted as a public offering (the “Domestic Offering”). The International Offering is being made solely on the basis of this International Offering Circular, which includes an English language translation of the Arabic language prospectus that is being utilised solely for the Domestic Offering (the “Domestic Offering Prospectus”). The final price at which the Offer Shares will be sold (the “Final Offer Price”), the number of Offer Shares to be sold and the percentage that the Offer Shares to be sold represent of the outstanding Shares will be determined at the end of the Book-Building Period (as defined in the Domestic Offering Prospectus) and will be published in international media outlets, as well as on Saudi Aramco’s website). Investing in the Offer Shares involves certain risks and uncertainties. See Section 2 (Risk Factors)ofthe Domestic Offering Prospectus included in this International Offering Circular for a discussion of certain factors to be carefully considered in connection with a decision to invest in the Offer Shares. Prior to the Offering, there has been no public market for the Offer Shares in the Kingdom or elsewhere.
Load more

Recommended publications
  • SAMREF Refinery Embraces Wireless Applications, Sets Foundation for Site-Wide Onewireless Network Infrastructure
    Case Study SAMREF Refinery Embraces Wireless Applications, Sets Foundation for Site-wide OneWireless Network Infrastructure “Wireless seemed like the natural answer to our immediate need for mobile video monitoring and Honeywell was the right partner because of its broad range of products and solutions and its field- proven track record in the areas of security, reliability and professional support." Mr. Azam L. Al-Hakeem, Information Technology Superintendent, SAMREF Background Benefits SAMREF is a joint venture between Saudi Arabian Oil Company The Wireless solution allows SAMREF to enhance their incident (Saudi Aramco) and Mobil Yanbu Refining Company Inc., a management procedures and rescue operations resulting in wholly owned subsidiary of Exxon Mobil Corporation. Saudi improved employee safety. Deployment of industrial video Aramco is the world’s largest oil producing and exporting cameras over the wireless network enables remote coverage of company with a history dating back more than 80 years. Exxon the refinery site from roaming vehicles. This allows SAMREF to Mobil Corporation is a global energy company which conducts record safety and security incidents, compare them with previous business in 140 countries on every continent throughout the incidents and keep a video record of near misses. By providing world. The SAMREF refinery complex in Yanbu, Saudi Arabia the refinery Incident Commander with a direct view of real-time produces approximately 400,000 barrels of product daily streaming video from the vehicle he is able to make faster including gasoline, heating oil, LPG, jet fuel and other energy decisions during crisis situations while reducing his dependency products. The Yanbu operation is said to be the most on the control room.
    [Show full text]
  • 23Rd WPC Announces Innovation Zone Special Feature Invites Innovators to Share Their Transformative Ideas That Will Impact the Future of Energy
    FOR IMMEDIATE RELEASE 23rd WPC Announces Innovation Zone Special feature invites innovators to share their transformative ideas that will impact the future of energy HOUSTON, TX (August 4, 2021) — The 23rd World Petroleum Congress Organizing Committee has announced the launch of the Innovation Zone, a captivating new feature on the exhibition floor of the Congress, which will take place in-person in Houston from December 5-9, 2021 at the George R. Brown Convention Center. The Innovation Zone, presented by ConocoPhillips, will provide startup companies an international platform to showcase cutting-edge practices and solutions to combat the current challenges of the energy industry and bring awareness to progressive energy solutions available on the market today. “For more than a century, innovation has enabled our industry to keep pace with the growing demand for safe and reliable energy,” said W. L. (Bill) Bullock, Jr., EVP and CFO, ConocoPhillips. “ConocoPhillips is pleased to be the Innovation Zone presenting sponsor, where companies will showcase innovations that can propel our industry’s purposeful journey through the energy transition and into the future.” Thirty-two selected startup companies and individuals will have the opportunity to pitch their innovative energy tools, technologies and practices on stage to Congress delegates and participants, who will then pick one to receive the Energy Innovator Award. The Innovation Zone is open to all for-profit energy companies, private entities and individuals operating as independent
    [Show full text]
  • PORT ARTHUR, TEXAS: the End of the Line for an Economic Myth
    PORT ARTHUR, TEXAS: The End of the Line for an Economic Myth August 2017 ACKNOWLEDGEMENTS This report was researched and written by Mary Greene and Keene Kelderman of the Environmental Integrity Project. THE ENVIRONMENTAL INTEGRITY PROJECT The Environmental Integrity Project (http://www.environmentalintegrity.org) is a nonpartisan, nonprofit organization established in March of 2002 by former EPA enforcement attorneys to advocate for effective enforcement of environmental laws. EIP has three goals: 1) to provide objective analyses of how the failure to enforce or implement environmental laws increases pollution and affects public health; 2) to hold federal and state agencies, as well as individual corporations, accountable for failing to enforce or comply with environmental laws; and 3) to help local communities obtain the protection of environmental laws. For questions about this report, please contact EIP Director of Communications Tom Pelton at (202) 888-2703 or [email protected]. PHOTO CREDITS Cover photo by Garth Lenz of Port Arthur. Executive Summary The Trump Administration’s approval of the Keystone XL Pipeline will lead to a surge in demand for oil refining at the southern end of the line, in Port Arthur, Texas – and a real test for claims that the administration’s promotion of fossil fuel industries will create jobs. The industrial port of 55,000 people on the Gulf of Mexico has been the home of America’s largest concentration of oil refineries for decades, and business has been booming. But history has shown little connection between the profitability of the petrochemical industries that dominate Port Arthur and the employment or health of the local people who live in this city of increasingly abandoned buildings and empty lots.
    [Show full text]
  • Saudi Arabia.Pdf
    A saudi man with his horse Performance of Al Ardha, the Saudi national dance in Riyadh Flickr / Charles Roffey Flickr / Abraham Puthoor SAUDI ARABIA Dec. 2019 Table of Contents Chapter 1 | Geography . 6 Introduction . 6 Geographical Divisions . 7 Asir, the Southern Region � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �7 Rub al-Khali and the Southern Region � � � � � � � � � � � � � � � � � � � � � � � � � �8 Hejaz, the Western Region � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �8 Nejd, the Central Region � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �9 The Eastern Region � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �9 Topographical Divisions . .. 9 Deserts and Mountains � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �9 Climate . .. 10 Bodies of Water . 11 Red Sea � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 11 Persian Gulf � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 11 Wadis � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 11 Major Cities . 12 Riyadh � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �12 Jeddah � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �13 Mecca � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �
    [Show full text]
  • Aramco---Intention-To-Float.Pdf
    **NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL** This announcement is not a prospectus and not an offer of securities for sale or subscription in any jurisdiction, including in or into the United States, Canada, Japan, Australia or South Africa. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Any offer to acquire shares pursuant to the proposed offering (the “Offering” or the “IPO”) will be made, and any investor should make his investment decision, solely on the basis of the information that is contained in the prospectus (the “Prospectus”) to be published by Saudi Arabian Oil Company (Saudi Aramco) (the “Company” or “Saudi Aramco”) in due course in connection with the listing (“Listing”) of its ordinary shares (“Shares”) on the Saudi Stock Exchange (the “Exchange” or “Tadawul”). Copies of the Prospectus will, following publication, be available on the websites of the Company at www.saudiaramco.com, the Exchange at www.tadawul.com.sa, the Capital Market Authority (“CMA”) at www.cma.org.sa and each of the Joint Financial Advisors (as defined below). 3 November 2019 Saudi Arabian Oil Company (Saudi Aramco) Announcement of Intention to Float on Tadawul INTRODUCTION Saudi Aramco, the world’s largest integrated oil and gas company, wholly owned by the Government of the Kingdom of Saudi Arabia (the “Kingdom”, the “Government” or the “Selling Shareholder”), today announces its intention to proceed with an initial public offering on the Main Market of Tadawul.
    [Show full text]
  • Saudi Arabia 2019
    Saudi Arabia 2019 Saudi Arabia 2019 1 Table of Contents Doing Business in Saudi Arabia ...................................................................................................................................... 5 Market Overview ....................................................................................................................................................... 5 Market Challenges ..................................................................................................................................................... 6 Market Opportunities ................................................................................................................................................ 8 Market Entry Strategy ............................................................................................................................................... 9 Political Environment................................................................................................................................................... 10 Selling US Products & Services .................................................................................................................................... 11 Agents and Distributors ........................................................................................................................................... 11 Establishing an Office .............................................................................................................................................
    [Show full text]
  • Security Council Distr.: General 27 January 2020
    United Nations S/2020/70 Security Council Distr.: General 27 January 2020 Original: English Letter dated 27 January 2020 from the Panel of Experts on Yemen addressed to the President of the Security Council The members of the Panel of Experts on Yemen have the honour to transmit herewith the final report of the Panel, prepared in accordance with paragraph 6 of resolution 2456 (2019). The report was provided to the Security Council Committee established pursuant to resolution 2140 (2014) on 27 December 2019 and was considered by the Committee on 10 January 2020. We would appreciate it if the present letter and the report were brought to the attention of the members of the Security Council and issued as a document of the Council. (Signed) Dakshinie Ruwanthika Gunaratne Coordinator Panel of Experts on Yemen (Signed) Ahmed Himmiche Expert (Signed) Henry Thompson Expert (Signed) Marie-Louise Tougas Expert (Signed) Wolf-Christian Paes Expert 19-22391 (E) 070220 *1922391* S/2020/70 Final report of the Panel of Experts on Yemen Summary After more than five years of conflict, the humanitarian crisis in Yemen continues. The country’s many conflicts are interconnected and can no longer be separated by clear divisions between external and internal actors and events. Throughout 2019, the Houthis and the Government of Yemen made little headway towards either a political settlement or a conclusive military victory. In a continuation from 2018, the belligerents continued to practice economic warfare: using economic obstruction and financial tools as weapons to starve opponents of funds or materials. Profiteering from the conflict is endemic.
    [Show full text]
  • Improving Counterterrorism and Law Enforcement Cooperation Between the United States and the Arab Gulf States
    Improving Counterterrorism and Law Enforcement Cooperation between the United States and the Arab Gulf States Thomas Warrick and Joze Pelayo Scowcroft Middle East Security Initiative The Atlantic Council’s Scowcroft Middle East Security Initiative honors the legacy of Brent Scowcroft and his tireless efforts to build a new security architecture for the region. Our work in this area addresses the full range of security threats and challenges including the danger of interstate warfare, the role of terrorist groups and other nonstate actors, and the underlying security threats facing countries in the region. Through all of the Council’s Middle East programming, we work with allies and partners in Europe and the wider Middle East to protect US interests, build peace and security, and unlock the human potential of the region. You can read more about our programs at www.atlanticcouncil.org/ programs/middle-east-programs/. Task Force on Mideast Counterterrorism – Law Enforcement Cooperation ■ Javed Ali, Towsley Policymaker in Residence, Gerald R. Ford School of Public Policy, University of Michigan ■ Kirsten Fontenrose, Director, Scowcroft Middle East Security Initiative, Atlantic Council ■ Daniel L. Glaser, Principal, Financial Integrity Network ■ Bernard Hudson, Nonresident Fellow, Belfer Center for Science and International Affairs ■ Michael McGarrity, Vice President Global Risk Services, Global Guardian ■ Pamela G. Quanrud, Former Director, C-ISIL Coalition, US Department of State ■ Todd Rosenblum, Nonresident Senior Fellow, Scowcroft Center
    [Show full text]
  • Breakdowns in Air Quality Air Pollution from Industrial Malfunctions and Maintenance in Texas
    Breakdowns in Air Quality Air Pollution from Industrial Malfunctions and Maintenance in Texas APRIL 27, 2016 ACKNOWLEDGEMENTS Written and researched by Ilan Levin and Kira Burkhart of the Environmental Integrity Project, and Luke Metzger and Sara Smith of Environment Texas. THE ENVIRONMENTAL INTEGRITY PROJECT The Environmental Integrity Project (http://www.environmentalintegrity.org) is a nonpartisan, nonprofit organization established in March of 2002 by former EPA enforcement attorneys to advocate for effective enforcement of environmental laws. EIP has three goals: 1) to provide objective analyses of how the failure to enforce or implement environmental laws increases pollution and affects public health; 2) to hold federal and state agencies, as well as individual corporations, accountable for failing to enforce or comply with environmental laws; and 3) to help local communities obtain the protection of environmental laws. ENVIRONMENT TEXAS Environment Texas Research & Policy Center is a statewide advocacy organization bringing people together for a cleaner, greener, healthier future.www.EnvironmentTexasCenter.org For questions about this report, please contact Ilan Levin, Director of EIP’s Texas office, at (512) 637-9479 or [email protected] PHOTO CREDITS Tom Pelton/ Environmental Integrity Project. Cover photo: East of Houston Texas, near the Shell Oil Deer Park plant. Page 13 photo by Blas Espinosa. CORRECTIONS Corrections were made in this report on May 10, 2016 updating the current owner of the Flint Hills Chemical Plant in Port Arthur (Jefferson County) to Koch/Flint Hills Resources and the owner of Port Arthur Refinery in Port Arthur (Jefferson County) to Motiva Enterprises, LLC. Breakdowns in Air Quality Executive Summary Texas leads the nation in energy production.
    [Show full text]
  • Balance Sheet
    (Formerly known as Saudi Hollandi Bank) (A Saudi Joint Stock Company) INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Un-audited) FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2017 0 Alawwal bank (Formerly known as Saudi Hollandi Bank) (A Saudi Joint Stock Company) NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three month period ended March 31, 2017 1. GENERAL Alawwal bank (Formerly known as Saudi Hollandi Bank) (the "Bank") is a Saudi Joint Stock Company incorporated in the Kingdom of Saudi Arabia and was formed pursuant to Royal Decree No. M/85 dated 29 Dhul Hijjah 1396H (corresponding to December 21, 1976). The Bank commenced business on 16 Shaaban 1397H (corresponding to August 1, 1977) when it took over the operations of Algemene Bank Nederland N.V. in the Kingdom of Saudi Arabia. The Bank operates under commercial registration No. 1010064925 dated 6 Jumada II 1407H (corresponding to February 5, 1987) through its 65 branches (December 31, 2016: 65 branches and March 31, 2016: 60 branches) in the Kingdom of Saudi Arabia. The postal address of the Bank’s head office is: Alawwal bank (Formerly known as Saudi Hollandi Bank) Head Office Al - Dhabab Street P O Box 1467 Riyadh 11431 Kingdom of Saudi Arabia The objective of the Bank and its subsidiaries listed below (collectively referred to as "the Group") is to provide a full range of banking and investment services. The Group also provides to its customers Islamic (non commission based) banking products which are approved and supervised by an independent Shariah Board established by the Bank.
    [Show full text]
  • HSBC City Report: Riyadh the Essence of Past, Present, and Future
    HSBC City Report: Riyadh The essence of past, present, and future 1 2 HSBC City Report: Riyadh Contents Riyadh’s rapid growth path p.4-8 Key development issues for Riyadh p.9-10 Future plans and ambitions p.11-13 COVID-19 and the next cycle of Riyadh p.14-16 HSBC a key partner in the sustainable evolution of Riyadh’s next chapter p.17-23 3 The Next Chapter of Riyadh 1. Riyadh’s rapid growth path As the capital city of the fast growing US$ 800 billion Saudi economy, the largest in the Middle East, North Africa and Turkey (MENAT) region, 1 Riyadh has evolved in the last 50 years into one of the region’s most important economic, governmental, and cultural centres. The city has benefited from several successive cycles of local and foreign direct investment, urban planning expertise, infrastructure investment and inward migration of workers. Today it is a key node in the Middle East system of cities. Figure 1: Riyadh’s population growth; Source: UN World Urbanisation Prospects 2018 Since the 1970s Riyadh has seen its population increase by more than 8% per year. Its population has almost doubled since 2000, and is still expected to grow by more than 25% up to 2035, making it one of the world’s fastest growing cities and the largest agglomeration in the Gulf region. 2 In line with population growth, Riyadh’s spatial footprint grew from 64km2 in 1970 to more than 1,500km2 in 2020. Compared to other fast-growing cities, Riyadh’s housing supply has kept pace with the rapid population growth, and demands on public services and infrastructure have continued to intensify.
    [Show full text]
  • Saudi Aramco Annual Report 2020 Has Certain Borrowings Where the Reference Rate Is Linked to LIBOR
    ResilienceResilience andand agilityagility SaudiAnnual Aramco Report Annual 2020 Report 2020 Resilience and agility Aramco’s exceptional past belongs to its future. Our people define our success. Energy has been running in our DNA for generations. We are proud of what we accomplished during 2020. Once again, our resilience shone through. We delivered on our shareholder commitments. And we continued to deliver an uninterrupted supply of energy to the world. Our resilience and agility has built one of the world’s largest integrated energy and chemicals companies. And we are part of the global effort toward building a low carbon economy. Our horizon has never been clearer. This Annual Report covers financial and operational aspects of Aramco from January 1, 2020 to December 31, 2020, and is issued in both Arabic and English. The print version is identical to its PDF counterpart, which is available at aramco.com. The Arabic version prevails in the event of any discrepancy. The images in this document are representative of the services provided by Aramco. Some photos may have been taken prior to the COVID-19 pandemic. Wherever possible, sustainable printing techniques were used. 01 Contents Aramco Risk Chairman’s message ...................................06 Risk management........................................ 92 President and CEO’s foreword ...................08 Risk factors ...................................................94 History .......................................................... 10 1 2020 highlights ...........................................
    [Show full text]