There is a lot of speculation in the media about the possible floatation of the state oil company of Saudi Arabia, Aramco.
5% of the Saudi Aramco is being suggested to be floated, giving a valuation of $2.5 Trillion = £1.72 Trillion.

That is 113% of UK Annual GDP.

The size of Aramco can not be underestimated. They are responsible for a ninth of global oil supply.

So the question is how much oil does Aramco have ?

Well, again the numbers are huge. The proven reserves are 267,000 MILLION barrels.

That is 267,000,000,000.

So what is that value in today’s prices ?

Crude oil trades at $45.51 a barrel = £31.53.

Thus:-

267,000,000,000 x £31.53 = £8,418,510,000,000

That is £8,418 Billion = £8.418 TRILLION.