When Saudi Aramco speaks, energy investors ought to listen.
With a quarter of the world's proven reserves of crude, Saudi Arabia's national oil company simply dwarfs the likes of ExxonMobil
Of course, if you keep an eye on Aramco, you know that it's been cutting deals faster than cards in the hands of a casino croupier. From ConocoPhillips
Who are the potential winners and losers here? A raft of new refineries could do wonders for contractors like Foster Wheeler
I don't foresee any companies suffering terribly from this refinery build-out, but consider that many of Aramco's projects are focused on developing Saudi refining capacity. On the margin, I expect that would depress oil tanker demand when the supply comes on a few years out, but such a minor pinch wouldn't keep me up at night if I were a Frontline