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Saudi Aramco IPO

Discussions about the economic and financial ramifications of PEAK OIL

Re: Saudi Aramco IPO

Unread postby rockdoc123 » Sun 24 Feb 2019, 18:12:39

Saudi Aramco, like most other private companies, doesn't publish annual reports like those issued by publicly traded companies. Aramco generally doesn't release quarterly or annual information on its sales or profits or assets the way publicly traded companies are required to do. In fact, Saudi ARAMCO rarely releases any data at all.


well in fact they do publish their annual review. You can download the 2017 annual review from their website. I did not say they publish their finances (in fact I didn't say they publish anything, I said they create those reports internally which they do), why in Gods name would a private company publish their finances? Public companies publish them because they are required to. And just because they don't publish them does not mean they don't keep financial records in accordance with international accounting standards. Their finances were just audited, which means the changes to the way they account will have been implemented already. Like every other large private company they will audit their finances every year because they still have shareholders, the main one being the government. If for some reason you think Aramco doesn't keep financial records then you are really out to lunch.

This means, if the IPO goes ahead in 2021, ARAMCO, for the first time in its history, will be publicly issuing quarterly and annual reports detailing their finances and assets, including oil reserves.


so what? What does that have to do with your suggestion that filing for an IPO in the US will require a full redo of their reserves and financial audits? The answer is it doesn't, it is simply a statement of the obvious.
And I suggest you familiarize yourself with the nature of listing around the world. Aramco if listed in New York would be a foreign entity and is not under the same requirements for quarterly reporting as a US-based entity. If they are dual listed then the requirements are even less. Canadian companies listed on the TSX and then dual listed on a US exchange as an example are exempt from many of the requirements faced by US-based companies including the need to file certain documents.
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Re: Saudi Aramco IPO

Unread postby Plantagenet » Sun 24 Feb 2019, 21:35:35

they do publish their annual review.....


Get real.

The ARAMCO annual review is totally different then an annual report---its just a public relations vehicle. There isn't even a hint of financial data in the Aramco annual report.

Your attempt to conflate the Aramco annual review with a conventional annual report is ridiculous.

so what?


So the facts are clear. Aramco has never published an annual report and your attempt to conflate the Aramco annual review with a conventional annual report is misguided and wrong.

Cheers!
"Its a brave new world"
---President Obama, 4/25/16
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Re: Saudi Aramco IPO

Unread postby rockdoc123 » Sun 24 Feb 2019, 23:44:11

The ARAMCO annual review is totally different then an annual report---its just a public relations vehicle. There isn't even a hint of financial data in the Aramco annual report.


UH, when was the last time you looked at an annual report? I worked for several intermediate O&G companies years ago and this was exactly what construed our annual report. Look at any of the Intermediate to Major O&G companies with respect to their annual report to shareholders. Did you even bother to go to the part that breaks out production, reserves, sales etc? Apparently not. All that is missing is the detailed financials which, as I said, would not be expected from a private company. Do you actually expect a private company to post financial data? Why would they do that? This is exactly the type of annual report that is being sent out these days....glossy, speaks to what they are doing and puts some detail about the business at the end. The public companies include their finances, the private ones do not.

So the facts are clear. Aramco has never published an annual report and your attempt to conflate the Aramco annual review with a conventional annual report is misguided and wrong.


Do I actually have to start posting links to annual reports/reviews that are absolutely no different? Here's one for you
https://corporate.exxonmobil.com/investors/annual-report and there are hundreds more just like it.

What is bizarre here is you continue to make claims about all sorts of things, SEC requirements, the way debt is issued, annual reports etc ( one only has to go up thread to count the number of false claims) that are all just completely based on made up crap. Familiarize yourself with the actual requirements before you post this nonsense. You may think it makes you look smart, it doesn't.
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Re: Saudi Aramco IPO

Unread postby Plantagenet » Tue 26 Feb 2019, 19:18:55

Yo crockdoc

The SEC requires publicly traded companies to issue audited annual reports on their financial data.

The annual reviews issued by ARAMCO contain no financial data.

Do you understand the differance now? Please wag your tail if you get it

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