It's not just the oil slump

This is one of the reasons for the layoffs as well. They need the money to finance this, and they'll get it any way they can.

Saudi Aramco, the world's largest oil producer, is in early talks with banks for a loan of about $10 billion to help finance its acquisition of a 70 per cent stake in Saudi Basic Industries Corp (SABIC), according to three banking sources.

https://energy.economictimes.indiatimes.com/news/oil-and-gas/exclusive-saudi-aramco-in-talks-with-banks-to-borrow-about-10-billion/75150747

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What happened to all that cash that was supposed to be generated by the world’s most-sought-after IPO? I thought people would be fighting tooth-&-nail to get pickpocketed. Was this just another fad, like trying to sell the pipelines in an effort to make the dividend payments on Company stock?

you nailed it

There are many demands on Aramco besides oil and gas supply and demand. Aramco is one big piggy bank to fund the government, families and social programs. It gets worst over time. In the long run i see a siphon and venezuela like end result.

Thread regarding Saudi Aramco layoffs

It's not just the oil slump

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