Saudi Aramco's tax to be linked to oil prices

Saudi Aramco’s 20 percent tax payable to government on oil revenue will adjust to reflect oil price movements following the public offering of a stake in the company, CEO Amin Nasser told Bloomberg.

After the initial public offering of a stake in Saudi Aramco, the company will adjust its tax rate to fluctuate with oil prices. The adjustment can help the government raise more money from an upward movement in oil prices.

Saudi government seeks to raise up to $100 billion from the listing of a five percent stake in Aramco. The IPO is expected in the second half of 2018.