RIYADH: Saudi nationwide oil big Aramco stated on Sunday that 5 new members had been appointed to its board of administrators, together with the primary lady within the agency’s historical past.
Lynn Laverty Elsenhans, 60, is the previous head of US oil firm Sunoco Inc. and has been director of oil providers firm Baker Hughes since July final yr. She has served on the boards of a number of main oil companies. Forbes ranked her tenth on its listing of the world’s one hundred strongest ladies in 2009.
The brand new appointments come because the oil-dependent kingdom, confronted with persistent finances deficits because of low crude costs, prepares to promote as much as 5 per cent of Aramco in an preliminary public providing both this yr or in 2019.
The dominion hopes to boost round $one hundred billion from the IPO, based mostly on a $2 trillion valuation of the corporate, which controls large oil and pure fuel deposits.
Revealed in Daybreak, April thirtieth, 2018
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