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China offers to buy 5% of Saudi Aramco directly: Sources

Saudi Arabia's Crown Prince Mohammed bin Salman said last year the kingdom was considering listing about 5% of Aramco in 2018 in a deal that could raise $100 bn

Reuters  |  Dubai | London 

China is offering to buy up to 5 percent of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world's biggest oil producer on the stock market. Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco in recent weeks to express an interest in a direct deal, industry sources told Reuters. The companies are part of a state-run consortium including China's sovereign wealth fund, the sources say. Saudi Arabia's Crown Prince Mohammed bin Salman said ...

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First Published: Mon, October 16 2017. 21:10 IST