Saudi Arabia Plans for Future of Saudi Aramco

Deputy Crown Prince Mohammed bin Salman announced a restructuring of Saudi Arabia’s Public Investment Fund (PIF) to be partly funded by selling shares in Saudi Aramco. He said that Saudi Aramco will be valued at over $2 trillion dollars when the initial public offering of less than 5 percent is made.  He said his goal is to end the Kingdom’s “addiction” to oil and transform it into a global investment power.   Another sweeping change that the 31 year old Prince plans is to “alter the social structure of the ultra-conservative Muslim kingdom by pushing for women to have a bigger economic role.” Prince Mohammed comments were made in his first news conference to international journalists.