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In reply to the discussion: STOCK MARKET WATCH -- Friday, 8 January 2016 [View all]Proserpina
(2,352 posts)5. Oil's Big Bang: Saudis Mull IPO of World's Biggest Producer
http://www.bloomberg.com/news/articles/2016-01-07/saudi-arabia-is-considering-aramco-ipo-deputy-crown-prince-says
The world biggest crude exporter is considering selling a stake in its state-owned company, which controls more than a tenth of the global oil market. A potential initial public offering is under review for Saudi Arabian Oil Co., also known as Aramco, Mohammed bin Salman, the kingdoms deputy crown prince, said in an interview with The Economist. A decision will probably be taken in the next few months, he said, without giving further details.
Personally Im enthusiastic about this step, Salman said. I believe it is in the interest of the Saudi market, and it is in the interest of Aramco by helping to promote transparency and counter corruption, he said.
Aramco could rival Apple Inc. as the worlds biggest listed company. It is solely responsible for tapping the worlds second-largest crude reserves, with production double that of its nearest rival. The company is one of the key players in balancing the oil market and its investment decisions have the potential to move crude prices and affect economies around the world.
more
The world biggest crude exporter is considering selling a stake in its state-owned company, which controls more than a tenth of the global oil market. A potential initial public offering is under review for Saudi Arabian Oil Co., also known as Aramco, Mohammed bin Salman, the kingdoms deputy crown prince, said in an interview with The Economist. A decision will probably be taken in the next few months, he said, without giving further details.
Personally Im enthusiastic about this step, Salman said. I believe it is in the interest of the Saudi market, and it is in the interest of Aramco by helping to promote transparency and counter corruption, he said.
Aramco could rival Apple Inc. as the worlds biggest listed company. It is solely responsible for tapping the worlds second-largest crude reserves, with production double that of its nearest rival. The company is one of the key players in balancing the oil market and its investment decisions have the potential to move crude prices and affect economies around the world.
more
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