(Bloomberg Opinion) — Saudi Arabia Oil Co.’s senior management reshuffle is more than just a game of high-level musical chairs at any old energy company.The oil giant faces an uphill battle to meet promises made before its record-setting initial public offering last year — and before the coronavirus pandemic hit — to deliver a $75 billion dividend payment this year and, presumably, a similar sized payout in 2021. It needs to adapt to meet the challenge.Aramco, as the company is widely known, is creating a new corporate development organization that will focus on “portfolio optimization,” with a brief to “assess …read more
Source:: Yahoo Finance
