06.07.2016 - Saudi Arabia contemplates largest sovereign wealth fund
While Saudi Arabia continues its dominance over world oil pricing, the nation's 30-year old Crown Prince Mohammed Bin Salman, is planning to form and sell shares of its state owned oil company, thereby creating the world's largest sovereign wealth fund ever. In order to make this happen, the Crown Prince must lift the shroud of mystery enveloping his nation's five huge oil fields, estimated by the Saudis to hold 260 billion barrels of oil. However the validity of these estimates has not been verified for decades, since the buyout of ARAMCO, now totally owned by the kingdom. The Saudis have not permitted external valuation since the 1960's...............................................Full Article: Source
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