Is the sun setting on Saudi oil?
Is Aramco finalising a much-delayed IPO just as markets are losing faith in fossil fuels?
Business Daily · BBC World Service
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Show Notes
Is the Saudi state oil company Aramco finalising its much-delayed share offering just as financial markets are losing faith in the future of fossil fuels?
Manuela Saragosa speaks to energy geopolitical analyst Indra Overland, who says that the transition to electric vehicles could happen much faster than expected, posing a direct threat to what is the world's biggest oil company. Meanwhile Andrew Grant of the think tank Carbon Tracker says that big institutional investors are beginning to take the financial risks posed by climate change far more seriously.
But according to oil industry consultant Cornelia Meyer the highly profitable Saudi company could still prove an attractive proposition for Western investors.
Producer: Laurence Knight
(Picture: A Saudi petroleum plant silhouetted at dusk; Credit: Scott Peterson/Liaison)