• 5 minutes Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 8 minutes What Can Bring Oil Down to $20?
  • 14 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 4 hours Alberta govt to construct another WCS processing refinery
  • 5 hours Let's Just Block the Sun, Shall We?
  • 1 hour Venezuela continues to sink in misery
  • 6 hours Instead Of A Withdrawal, An Initiative: Iran Hopes To Agree With Russia And Turkey on Syrian Constitution Forum
  • 1 day U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 3 hours Water. The new oil?
  • 1 day Quebecans Snub Noses at Alberta's Oil but Buy More Gasoline
  • 4 hours Regular Gas dropped to $2.21 per gallon today
  • 4 mins USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 2 days OPEC Cuts Deep to Save Cartel
  • 2 days IEA Sees Global Oil Supply Tightening More Quickly In 2019
  • 2 days $867 billion farm bill passed
  • 2 days Global Economy-Bad Days Are coming
Alt Text

Joint OPEC+ Committee Recommends Cuts

According to Russian press agency…

Alt Text

Oil Prices Tank Despite Large Crude Draw

Oil prices fell on Thursday…

Alt Text

Iran: Don’t Count On A New OPEC Deal

Iran’s OPEC ambassador Ardebili said…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for US-based Divergente LLC consulting firm, and a member of the Creative Professionals Networking Group.

More Info

Trending Discussions

Saudi Arabia Looks To Shelve Aramco IPO

Oil giant Saudi Aramco is thinking about reneging on its much talked about plans to publicly list a 5% stake in the company, Financial Times sources said on Friday.

Last month, the Saudi government came up with contingency plans for a possible delay, according to Bloomberg sources, which didn’t go into detail about what the drivers behind the delay could be. A day after media reported that the IPO could be delayed, Aramco sent an email to media dispelling the notion that the IPO could be delayed, saying instead that the IPO was indeed on track.

“The IPO process is well underway and Saudi Aramco remains focused on ensuring that all IPO related work is completed to the very highest standards on time,” the September 15 statement read.

Aramco had not yet decided on a location for its secondary listing, but was considering the London Stock Exchange and the New York Stock Exchange—a listing that could be valued at as much as $100 billion. But an international listing poses unique challenges for the oil titan, which may struggle to conform to foreign listing rules that demand transparency and may prevent Aramco from participating in OPEC production quotas, which may be viewed as price fixing as far as the United States is concerned.

But now, neither stock exchange may get a piece of the pie, as Aramco is reportedly considering selling its shares privately, rather than publicly. Talks with private investors and sovereign wealth funds have picked up in recent weeks, according to Financial Times sources. Private sales discussions have included the government of China.

A Saudi Aramco spokesperson told CNBC that "a range of options, for the public listing of Saudi Aramco, continue to be held under active review. No decision has been made and the IPO process remains on track."

By Julianne Geiger for Oilprice.com

More Top Reads from Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment
  • Naomi on October 14 2017 said:
    Saudi Arabia invests in Russia, yet they ask you to invest in Saudi Arabia? Odds are Saudi Arabia oil fields are dry.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News