Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BP    BP.   GB0007980591

BP (BP.)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets

BP : Saudi Aramco CEO says listing on track for 2018 - CNBC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/23/2017 | 12:31pm CEST
Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama

DUBAI (Reuters) - Saudi Aramco's initial public offering will take place in 2018 as planned and the listing venue will be revealed in due course, the company's chief executive said in a CNBC interview broadcast on Monday.

"We have always said that we will be listing in 2018, and to be more specific, in the second half of 2018," CEO Amin Nasser said, later adding: "The IPO is on track. The listing venue will be discussed and shared in due course."

Aramco is preparing to list about 5 percent of its shares in local and international stock markets. It has yet to choose an overseas market. Nasser rejected a report that China was emerging as a frontrunner in a possible plan to delay the IPO and sell shares to sovereign wealth funds, CNBC said.

"Saudi Aramco are not talking, as I said, to the Chinese or others," he said.

Regarding the IPO process and possible venues for the listing, Nasser said all was still being considered.

"All of that analysis is being reviewed in detail ... to make a decision at a certain stage, and we're not going to be pushed, you know, by a journalist saying this needs to be talked about or not."

Reuters reported last week that China was offering to buy up to 5 percent of Saudi Aramco directly. The Financial Times reported earlier this month that the company was considering shelving IPO plans in favour of a private share sale to world sovereign funds and institutional investors.

Nasser also said Aramco will "meet all the requirements of that market in terms of reserve assessment" and other rules of the country where it chooses to list. He said Saudi Arabia was largely operating in line with its closest peers, such as Exxon Mobil (>> Exxon Mobil Corporation) and BP (>> BP).

"I can say Aramco has always been run like a publicly traded company," he said. "If you look at our governance, we have independent board members. Everything that has been done in the company is similar to any international oil company in terms of the way we do business."

Saudi Arabia's Crown Prince Mohammed bin Salman said last year the country was considering listing about 5 percent of Aramco in 2018 in a deal that could raise $100 billion (£75.9 billion), if the company is valued at about $2 trillion as hoped.

(Reporting by Sylvia Westall. Editing by Dale Hudson and Jane Merriman)

Stocks treated in this article : Exxon Mobil Corporation, BP
Stocks mentioned in the article
ChangeLast1st jan.
BP 0.13% 560.1 Delayed Quote.7.02%
EXXON MOBIL CORPORATION 0.47% 81.2 Delayed Quote.-2.70%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BP
10/16BP : Eni to start exploratory drilling in Libya in first quarter of 2019
AQ
10/16BP : Neste Corporation - Neste and Air BP enter into innovative industry collabo..
AQ
10/16BP : KBR subsidiary wins FEED services contract for BPs Tortue project
AQ
10/15BP : criticises price controls, days after India cuts cost of fuel
RE
10/15BP : Professor Nargiz Pashayeva admitted as permanent member of Chancellor&rsquo..
AQ
10/13BP : Neste, Air BP collaborate on sustainable aviation fuel
AQ
10/12BP : Expect 'extreme volatility' for oil prices due to Iran sanctions
AQ
10/12U.S. oil firms restore operations in storm-tossed Gulf of Mexico
RE
10/11BIG OIL STILL RELUCTANT TO OPEN SPEN : Goldman
RE
10/11BP : Iran Sanctions May Lead to Extreme Volatility in Oil Prices
AQ
More news
News from SeekingAlpha
10/11Oil companies begin restoring Gulf of Mexico operations after hurricane 
10/11U.S. crude oil tumbles 3% amid risk-off posture, rising stockpiles 
10/11Clean Energy Fuels, BP to expand renewable nat gas supply agreement 
10/11Early premarket losers include SQ, AMZN, NFLX 
10/10Hurricane Michael cuts 42% of U.S. Gulf of Mexico crude oil output 
Financials ($)
Sales 2018 305 B
EBIT 2018 20 997 M
Net income 2018 11 124 M
Debt 2018 38 512 M
Yield 2018 5,41%
P/E ratio 2018 13,63
P/E ratio 2019 11,74
EV / Sales 2018 0,61x
EV / Sales 2019 0,57x
Capitalization 148 B
Chart BP
Duration : Period :
BP Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BP
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 8,37 $
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Robert W. Dudley Group Chief Executive Officer & Executive Director
Carl-Henric Svanberg Chairman
Andy Hopwood Group COO, Executive VP-Strategy & Regions
Brian Gilvary Group Chief Financial Officer & Executive Director
David Eyton Group Head-Technology
Sector and Competitors
1st jan.Capitalization (M$)
BP7.02%147 593
EXXON MOBIL CORPORATION-2.70%344 547
CHINA PETROLEUM & CHEMICAL CORP5.71%111 377
RELIANCE INDUSTRIES23.66%97 707
SUNCOR ENERGY INC.3.66%59 255
PHILLIPS 665.99%50 818