Riyadh – Mubasher: The franchise royalty-fees paid by Saudi Aramco to the government will remain at 20% in the current period, said CEO Amin Nasser.
The value of fees may be adjusted when oil prices change, Nasser added.
Details about the taxes that the state-owned crude producer will not be revealed before announcing the initial public offering (IPO) prospectus.
Nasser affirmed that the largest international oil company is ready to implement the IPO in the second half of 2018, awaiting for the authorities’ decision about the stock market that Aramco will be listed on.
On Wednesday, Nasser told Reuters that Aramco plans to expand in the US.
Saudi government plans to sell 5% stake of the largest global oil provider.
