Will The World’s Newest Oil Benchmark Be A Success?

At a time when highly leveraged U.S. exploration and production (E&P) companies have been struggling with dwindling valuations, shrinking credit lines, and mounting bankruptcies, Middle East state-owned oil and gas companies (NOCs) appear to be having little trouble courting foreign investors. The majority of investors are aware of oil giant Saudi Aramco’s moves, including its IPO and (self-estimated) $2 trillion valuation. Few, however, know about the other Middle East oil giant that could actually beat Aramco to the public punch: The…