Al Dabbagh: Saudi Aramco achieved strong results despite price volatility; no plans to issue other bonds in 2019

12/08/2019 Argaam

 

Saudi Aramco has achieved unmatched strong financial results despite oil prices fluctuations, the company’s senior vice president of Finance, Strategy & Development, Khalid Al Dabbagh said in a statement to Al Arabiya news.

 

The oil giant’s net income is the highest globally among peers, he added.

 

The company's cash flow which reached $38 billion in the first half of 2019 is very strong and unparalleled, Al Dabbagh added.

 

Income and free cash flows levels remain significantly higher than those of the top five international oil companies combined.

 

Saudi Aramco has no plans to issue other bonds during 2019 and is committed to build a long-term relationship with debt bond markets.

 

The senior official added that Aramco is ready for the IPO but the timing is up to the government that owns the company.

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