Saudi Aramco obtained its first credit rating before the bond was issued, as Fitch Ratings said it placed the Saudi Aramco rating at AA +. < / p>
According to Reuters, Fitch said: Saudi Aramco is the largest oil producer in the world and by a large margin, outperforming regional counterparts such as Abu Dhabi National Oil Company (ADNOC) and companies Giant oil listed like Royal Dutch Shell, Total and BP.
Fitch added: Saudi Aramco is the world's largest oil producer by volume ... In 2018, its average production of liquids and hydrocarbons totaled 11.6 million and 13.6 million. Barrels of oil equivalent per day, respectively, far exceeding the upstream production of integrated global and regional producers such as ADNOC, Shell, Total and BP.
She added that the state-owned company is less present in natural gas and the downstream sector than some of its global peers, such as Shell and Total, which makes it more exposed to oil prices, although this compensates for it. Lower production cost, strategy for downstream expansion and acquisition of SABIC.
Saudi Aramco said last week that it would buy 70 percent of the Saudi Basic Industries Corporation (SABIC) from the Saudi sovereign wealth fund for $ 69.1 billion in one of the largest deals The global chemical industry.
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