What O&G auditing company worth its salts will dispute and figure that Saudi Aramaco wants on top of an audit? I mean, that’s one of the very biggest potential customers and you just don’t poke the finger in the eye of someone who can pay you so lavishly. Does that mean that the figures coming out of Saudi Arabia are fake? Nope, this only means that I don’t believe anything from such a country as the auditor must strive hard to deliver a verdict that’s in line with what’s expected from him. Especially if he likes to produce further such audits. But we believed the statememts of the big five accounting firms before 2008 too.
Saudi Arabia is expected to announce a slight rise in its crude oil and gas reserves on Wednesday after being independently audited, according to a source familiar with the matter.