Saudi Arabia to sell 5 percent of Aramco share by 2018
02 Apr 2016
(MENAFN) Saudi Arabia aims to sell a share of less than 5 percent in its state owned oil company.
Moreover, the kingdom is working on a plan to offer shares in all of Saudi Arabian Oil Co. rather than of its refining payments.
The firm will be offered to the public as well as a number of its subsidiaries and will give investors a share in the world’s oil fields.
Aramco controls almost 10 times the oil reserves held by Exxon Mobil and based on a conservative valuation of USD 10 a barrel.