Aramco employees are seen at Natural Gas Liquids (NGL) facility in Saudi Aramco’s Shaybah oilfield, Saudi Arabia.
Ahmed Jadallah | Reuters
As Saudi Aramco prepares for its long-awaited initial public offering this year, the world’s largest oil company has detailed the vast number of risks its business faces in its prospectus released over the weekend.
Owned and operated by the kingdom of Saudi Arabia, the oil giant’s IPO is expected to be the largest in history. But, while Aramco is reportedly the most profitable company in the world, its oil and gas network is exposed to a wide variety of risks.
“The following risks, which are identified as material, do not necessarily comprise all the risks affecting the Company or associated with an investment in the Shares,” Aramco said in the “Risk Factors” section of its prospectus.
Aramco faces a few obvious risks – such as the supply, demand and price of crude oil or how much oil the Saudi government decides to produce, as the country is a…