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Saudi Aramco IPO could be open to international markets

Staff writer ▼ | January 25, 2016
An initial public offering of Saudi Aramco could be on the local or international markets but would not include Saudi energy reserves, the company's chairman told al-Arabiya.
Saudi Aramco
Public offer   Aramco has crude reserves estimated at about 265 billion barrels
reserves is being studied," Khalid al-Falih told the channel in an interview from Davos, Switzerland where the annual World Economic Forum was held last week.

In an interview with The Economist earlier this month, Saudi Deputy Crown Prince Mohammed bin Salman said Riyadh might sell shares in Aramco as part of a privatization drive.

Aramco has crude reserves estimated at about 265 billion barrels, over 15 percent of all global oil deposits, so it could become the first listed company valued at US$1 trillion or more if it went public, analysts have estimated.

But several sources familiar with official thinking told Reuters that Aramco's massive size, and the confidentiality surrounding it as the main instrument of the kingdom's oil policy, pose hurdles to any listing of the parent firm. They said Saudi Arabia is considering selling shares in refining ventures with foreign oil firms.