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    2222   SA14TG012N13

SAUDI ARABIAN OIL COMPANY

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DMEA: Money matters in Saudi

03/30/2021 | 07:56am EDT

Two significant Saudi Arabian financial deals came to the fore this week centring on petrochemicals and pipelines.

Saudi Aramco and Dow Chemical reached a debt restructuring agreement for their Sadara Chemical Co. joint venture (JV) while allocating more gas to the plant. The deal will see the partners guarantee up to an aggregate of $3.7bn of senior debt proportionate to their shareholding while benefiting from a repayment grace period that runs until June 2026.

The JV operates a $20bn plant in Jubail Industrial City in the oil-rich Eastern Province, capable of producing 3mn tonnes per year (tpy) of a slate of 26 chemicals and is home to Saudi Arabia’s first mixed-feedstock cracker. Commercial operations began in 2017.

Meanwhile, Aramco is also reported to have asked banks for proposals to provide funding that it intends to offer companies considering leasing a stake in its oil pipelines division.

The financing could be worth up to $10bn, putting it on a par with the $10.1bnAbu Dhabi National Oil Co. (ADNOC) received from a consortium in June 2020 in exchange for leasing out a 49% share in the ADNOC Gas Pipelines and significantly more than the $4.9bn BlackRock and KKR spent to lease a 40% stake in ADNOC Oil Pipelines months earlier.

Aramco is being advised by JPMorgan and Japan’s MUFG on the novel deal, dubbed internally ‘Project Seek’, which would see the company provide financing to buyers to fund the lease the stake in the pipeline business.

©2021 bne IntelliNews , source Magazine

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Analyst Recommendations on SAUDI ARABIAN OIL COMPANY
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Financials
Sales 2021 1 352 B 360 B 360 B
Net income 2021 367 B 97 910 M 97 910 M
Net Debt 2021 245 B 65 228 M 65 228 M
P/E ratio 2021 19,0x
Yield 2021 4,04%
Capitalization 6 986 B 1 863 B 1 863 B
EV / Sales 2021 5,35x
EV / Sales 2022 4,91x
Nbr of Employees 79 000
Free-Float 1,76%
Chart SAUDI ARABIAN OIL COMPANY
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Saudi Arabian Oil Company Technical Analysis Chart | 2222 | SA14TG012N13 | MarketScreener
Technical analysis trends SAUDI ARABIAN OIL COMPANY
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 34,95 SAR
Average target price 35,21 SAR
Spread / Average Target 0,75%
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
Sector and Competitors
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