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    2222   SA14TG012N13

SAUDI ARABIAN OIL COMPANY

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Saudi Arabian Oil : Arabia sets cap on local gasoline price for July

07/10/2021 | 10:58am EDT

DUBAI, July 10 (Reuters) - Saudi Arabia, the world's largest oil exporter, set a cap on local gasoline prices for July to help alleviate rising living costs and boost the economy, official media reported on Saturday.

Fuel prices will be capped at 2.18 riyals (58.1 cents) per litre for the 91 octane grade, and at 2.33 riyals per litre for the 95 octane variety, effective July 10, according to a decree issued by King Salman.

Saudi Arabia's annual inflation accelerated for the second consecutive month in May, reaching 5.7% compared with 5.3% at the end of April as the prices of food and beverages and transport rose, according to official statistics.

The government has been working to bring domestic fuel prices in line with international levels, part of reforms aimed at easing the burden of subsidies on state finances, improving energy efficiency and cutting consumption.

Saudi Arabia's economy shrank 4.1% last year, but the International Monetary Fund expects real GDP, an inflation-adjusted measure, to grow 2.1% this year as it recovers from the pandemic's impact. ($1 = 3.750 Saudi riyal) (Reporting by Ahmad Elhamy Editing by Helen Popper)


ę Reuters 2021
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Analyst Recommendations on SAUDI ARABIAN OIL COMPANY
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Financials
Sales 2021 1 353 B 361 B 361 B
Net income 2021 367 B 97 899 M 97 899 M
Net Debt 2021 245 B 65 221 M 65 221 M
P/E ratio 2021 19,1x
Yield 2021 4,02%
Capitalization 7 016 B 1 870 B 1 870 B
EV / Sales 2021 5,37x
EV / Sales 2022 4,90x
Nbr of Employees 79 000
Free-Float 1,76%
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Technical analysis trends SAUDI ARABIAN OIL COMPANY
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 35,10 SAR
Average target price 35,39 SAR
Spread / Average Target 0,82%
EPS Revisions
Managers and Directors
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Khalid Hashim Al-Dabbagh Director, SVP-Finance, Strategy & Development
Yasir bin Othman Al-Rumayyan Chairman
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Ziad Thamer Al-Murshed Vice President-International Operations
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