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2.11 MB

Extraction Summary

2
People
4
Organizations
2
Locations
2
Events
2
Relationships
3
Quotes

Document Information

Type: Interview transcript / government record
File Size: 2.11 MB
Summary

This document represents a page from a transcript of an interview with a Saudi Prince (likely Mohammed bin Salman), stamped by the U.S. House Oversight Committee. The discussion focuses on the timeline for the sale of Aramco (planned for 2018), the separation of political decisions from economic oil production strategies, and coordination with OPEC. The interviewee also details a government initiative to transform 100 local Saudi companies into global leaders, drawing a parallel to how the German Chancellor advocates for German businesses.

People (2)

Name Role Context
Your Highness the prince Interviewee
Addressed by the interviewer; likely Mohammed bin Salman given the context of Aramco IPO and Saudi Vision 2030.
German Chancellor Foreign Leader
Mentioned as having visited 'a few days ago' to negotiate on behalf of German companies.

Organizations (4)

Name Type Context
Aramco
State-owned oil company discussed regarding its sale (IPO) and production ceilings.
Government of Saudi Arabia
Discussed regarding revenue, taxation, and economic planning.
OPEC
Mentioned regarding coordination of oil supply and demand.
House Oversight Committee
Implied by the Bates stamp 'HOUSE_OVERSIGHT_023654' at the bottom.

Timeline (2 events)

Few days ago (relative to document date)
Visit by the German Chancellor with managers of German companies.
Saudi Arabia (Implied)
German Chancellor German company managers
Last Sunday (relative to document date)
Launch of an investment program to stimulate 100 companies.
Saudi Arabia

Locations (2)

Location Context
Implied location of the government and economy discussed.
Mentioned in relation to the German Chancellor's visit.

Relationships (2)

Government of Saudi Arabia Regulatory/Fiscal Aramco
Government receives 50% oil tax; government determines production ceiling.
German Chancellor Advocacy German Companies
Chancellor negotiated on behalf of companies 'as if these companies are belonging to the German government'.

Key Quotes (3)

"Production is not a political decision, production is an economic decision."
Source
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Quote #1
"The government's interest is to develop the profits of Aramco."
Source
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Quote #2
"We acquire more than 100 companies that have the opportunity to turn from a local company into a leading regional company."
Source
HOUSE_OVERSIGHT_023654.jpg
Quote #3

Full Extracted Text

Complete text extracted from the document (3,139 characters)

* When will the Aramco project be sold?
- 2018.
* Do you now work on papers and permits?
- That is right.
* If Aramco is sold. Who will determine the ceiling of Aramco's production?
- Determination of the production ceiling would be the prerogative of the Saudi government, increasing the production at the price that suits the company is in favor of the Government of Saudi Arabia. A part of the governmental revenues is from the oil tax (50%) on the oil sold or produced, as well as the taxes it receives from Aramco. The government's interest is to develop the profits of Aramco, meaning that the government will not take a decision that violates its interests and the interests of Aramco in the rate of production.
* Your Highness the prince, the subject of production with the economic vision and mentality in the market, will the production be freed from the political decision?
- Production is not a political decision, production is an economic decision, it was not a political decision at all in the past, production is an economic decision, what is the economic benefit to determine the appropriate production price, this is governed by supply and demand and coordination with OPEC countries and countries outside OPEC to coordinate the amount of supply and demand so that there is no collapse or confusion in oil prices.
* One of the programs that have been launched last Sunday, is the investment program to stimulate 100 companies to turn either to regional or to international companies, what are the companies targeted to raise their level?
- I cannot name companies now, there are companies where part of them is in the stock market and companies outside the stock market. We acquire more than 100 companies that have the opportunity to turn from a local company into a leading regional company. We also acquire companies that have the opportunity to turn from a leading regional company to a leading global company, and we have a group of companies that can achieve this transformation and this huge impact that will be reflected on the Saudi economy. They need easy procedures, facilities and agreements with other countries, facilitate their sales, and facilitate their spread.
* Will the government negotiate on behalf of companies and take care of their interests?
- Undoubtedly, we can touch that all the governments of the world are doing this. The last of which was few days ago when we had the German Chancellor with the managers of the most important companies in Germany, and she was negotiating as if these companies are belonging to the German government, she also was entering in all the details for the success of the work of these companies. The Saudi government should play its role to turn the success of Saudi national companies. This will transform 100 Saudi companies from local leading companies to regional leading companies and from regional leading companies to global leading companies, and also this will provide us with experience in how to turn these companies into large ones so that after 2020 we operate programs targeting a wider range of these companies.
HOUSE_OVERSIGHT_023654

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