Saudi Aramco CEO: Initial public offering will ‘certainly’ happen

Saudi Aramco chief Amin Nasser also said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp, or Sabic. (AFP)
Updated 13 November 2018

Saudi Aramco CEO: Initial public offering will ‘certainly’ happen

  • IPO will happen when conditions are right
  • Saudi Aramco still in discussions to buy a stake in Sabic

ABU DHABI: Saudi Aramco Chief Executive Officer Amin Nasser said the initial public offering of the state-oil producer will “certainly” happen when the conditions are right.
Saudi Aramco said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp. (Sabic) from the kingdom’s sovereign wealth fund, the Public Investment Fund, he said at a conference in Abu Dhabi.


Kuwait backs OPEC+ meeting, resumes Neutral Zone shipments with Saudi

Updated 36 min 2 sec ago

Kuwait backs OPEC+ meeting, resumes Neutral Zone shipments with Saudi

  • The shipment, of about one million barrels will be loaded on a tanker on Saturday and Sunday, for export to Asia

DUBAI: Kuwait supports Saudi Arabia’s invitation for a meeting between meeting of OPEC and non-OPEC oil producers, an informal grouping known as OPEC+, to curb global oil supply and halt the oil price rout, oil minister Khaled Al-Fadhel said on Friday.

The minister, cited by the state-news agency KUNA, also announced the resumption of crude shipments from the so-called Neutral Zone the country shares with Saudi Arabia for the first time in five years.

The shipment, of about one million barrels will be loaded on a tanker on Saturday and Sunday, for export to Asia, he said.