The company is now resorting to debt to play shareholders. The old rob Peter to pay Paul business plan. No looking good.
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Wow they were going to save the kingdom’s economy with expat fees. How’d that work out pumpkins? It was billions and billions. Where it at? 😂
Yes, Debt. And asset sales. Everybody says its not a big deal because Aramco still doesn't have much debt. The problem is that Aramco IS Saudi Arabia, even if the government doesn't like that fact. So, when you look at debt, you need to include KSA and Aramco together. When you do that, its not as good.
The government is trying to fix this dependence on oil with cities in the middle of nowhere and glowing sand. Everybody knows it won't work, except a certain somebody, and he isn't taking advice. The PIF is his bag man. Aramco used to be a partner, albeit it a junior partner, with the government. Now, its just a source of funds, and the relationship is like that between a pi-p and a pr-------e. B^tch betta have my money! The government is going to squeeze Aramco dry to meet is "goals". Hugo Chavez would be proud.
Each expat employee will be asked to donate one (1) of their functioning kidneys to be sold on the Fi-----o market to help pay 💰 the dividend. Around raise time, each expat employee will take one (1) each kidney punch 🥊 to the remaining organ in lieu of a raise. It will be called the “Take One Twice for the Company.” This should increase moral, tremendously! A great PDP developed the program.
This is what happens when you have a PDP running a company/country.
I can’t tell if the previous commenter realizes Exxon is in serious economic trouble or not. The difference is if Exxon fails it’s just a company. The assets get sold off and most people still have a job. When Aramco falls it takes a country down with it and you’re left scrambling to get out.
Exxon did that last year multiple quarters.
You can see where that gets them.