Saudi MBS considering Aramco reshuffle as market value falls by $800 billion

MBS is reviewing the future of Saudi Arabia’s megaprojects, including NEOM and The Line, as well as the Kingdom’s broader strategy.

This note explores MBS’s cash-focused adjustments, including:

• Saudi stance on megaprojects
• Aramco’s reprioritization towards gas and downstream
• Aramco’s international posture and dividend protection measures
• Internal reshuffling at Aramco