The traditional image of Japan-Saudi Arabia trade relations — crude oil heading east, Toyota cars heading west — is an oversimplification, but there is enough truth in it to make it more than a cliche.

The Gulf Intelligence UAE Energy Forum traditionally kicks off the year in the oil and gas business, but with its 10th anniversary coinciding with an exceptionally volatile time in the Middle East, yesterday’s event faced a host of worrying distractions.

Saudi Aramco is the biggest company in the world measured by market capitalization, and the Tadawul is the venue for the biggest share sale in history.

The annual Bloomberg New Economy Forum (NEF) moved seamlessly from Singapore, where it was held last year, to Beijing, where it might be held regularly from now on. That is the current plan, but there are a number of variables that could come into play over the next 12 months.

The initial public offering (IPO) of Saudi Aramco — still set to be the biggest in history on the basis of yesterday’s valuation — is up and running, and the next few weeks will produce a steam of headlines up to and including the day the shares finally start trading on Tadawul.

The Saudi Aramco stand at ADIPEC was probably the single most visited exhibit at the gigantic energy show Abu Dhabi puts on every year.

There was talk at Saudi Aramco’s initial public offering (IPO) presentation in Dhahran on Sunday of the need to “educate” people about the forthcoming share sale, and it is true that such a massive financial transaction is complex and cloaked in terminology not immediately familiar to all.