Saudi Aramco declares unable to publish financial statements

SANAA, Nov. 01 (YPA) – The Saudi Refineries Company announced on Thursday that it was unable to publish the financial statements for the nine-month period ending on September 30, 2022 at time.

The company said in a statement that it still working with the external auditor to issue the preliminary financial statements for the third quarter 2022, and they would declare as soon as the external auditor be approved.

The company’s announcement came after the Saudi regime was forced to involve international accounting firms, in an attempt to improve the situation of Saudi oil production institutions, against the backdrop of the unexpected failure of Aramco during its public offering, after international investors refrained from buying Aramco shares.

“Due to the lack of clear accounting records for the company, which is the private property of the Saudi king.” It does not observe international standards of integrity, in addition to the dangerous situation that Saudi oil is suffering from due to the threats coming from Yemen, in response to the war waged by Riyadh on Yemen nearly eight years ago.

AA