 "Saudi considers IPO for oil giant Aramco: report")
Saudi Arabia is considering issuing shares in state-owned oil giant Saudi Aramco, the kingdom's powerful deputy crown prince told The Economist in a rare interview published today.
"That is something that is being reviewed, and we believe a decision will be made over the next few months," Mohammed bin Salman told the London-based publication after the country posted a record budget deficit due to falling oil prices.
"Personally I'm enthusiastic about this step. I believe it is in the interest of the Saudi market, and it is in the interest of Aramco, and it is for the interest of more transparency, and to counter corruption, if any, that may be circling around Aramco," said the prince.
The thirty-something son of King Salman chairs the Supreme Council, which has overseen the company since it was separated from the oil ministry last year.
He is also defence minister and heads the kingdom's main economic coordinating council.
Saudi Aramco is the world's largest oil company in terms of crude production and exports.
"That is something that is being reviewed, and we believe a decision will be made over the next few months," Mohammed bin Salman told the London-based publication after the country posted a record budget deficit due to falling oil prices.
"Personally I'm enthusiastic about this step. I believe it is in the interest of the Saudi market, and it is in the interest of Aramco, and it is for the interest of more transparency, and to counter corruption, if any, that may be circling around Aramco," said the prince.
The thirty-something son of King Salman chairs the Supreme Council, which has overseen the company since it was separated from the oil ministry last year.
He is also defence minister and heads the kingdom's main economic coordinating council.
Saudi Aramco is the world's largest oil company in terms of crude production and exports.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%