Saudi Aramco may be worth a fifth of estimated value

‘The world’s most valuable company, oil monopoly Saudi Aramco, could be worth just $400 billion, or 80 percent less than the $2 trillion estimated by Riyadh, according to analysts at Wood-Mackenzie.
Ahead of the initial public offering (IPO), Saudi Aramco’s value is no more than a guess. The company has stuck to its claim that it has 261 billion barrels of proven reserves, enough for decades to come, and has never publicly released financial statements.
The $2 trillion estimate put forward by Deputy Crown Prince Mohammed bin Salman last March comes by multiplying the industry-standard estimate of $8 a barrel by the number of Saudi-claimed reserves.
However, as Bloomberg reports, quoting unnamed WoodMac clients in London, the British consultancy group estimates Aramco’s business at $400 billion. Wood-Mackenzie is acknowledged for its analysis and valuation of energy companies.’
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