Riyadh Mulls Over Rising Oil Tax System

Saudi Arabia is considering changing the way it taxes Aramco,
the state oil giant, in a bid to boost oil revenues in case oil
prices rise. Bloomberg quotes sources close to the government who
say that Aramco proposed the change, which will see taxes start at
20 percent and rise gradually to reflect significant increases in
oil prices. It is possible that Riyadh will choose to leave things
as they are, however, as higher royalty taxes could put off
potential investors in Aramco: the company is preparing to list 5
percent of its shares next year…

Saudi Arabia is considering changing the way it taxes Aramco,
the state oil giant, in a bid to boost oil revenues in case oil
prices rise. Bloomberg quotes sources close to the government who
say that Aramco proposed the change, which will see taxes start at
20 percent and rise gradually to reflect significant increases in
oil prices. It is possible that Riyadh will choose to leave things
as they are, however, as higher royalty taxes could put off
potential investors in Aramco: the company is preparing to list 5
percent of its shares next year…