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Regular-article-logo Thursday, 12 February 2026

Saudi Aramco's share offer

Saudi Aramco, the world's largest crude oil producer and exporter, today said it was considering a public share offer.

TT Bureau Published 09.01.16, 12:00 AM

Riyadh, Jan. 8 (AFP): Saudi Aramco, the world's largest crude oil producer and exporter, today said it was considering a public share offer.

The company is studying various options to allow broad public participation in its equity, a statement said.

This will be through listing on capital markets "of an appropriate percentage of the company's shares and/or listing of a bundle (of) its downstream subsidiaries", it said.

"This proposal is consistent with the broad and progressive direction pursued by the kingdom for reforms, including privatisation in various sectors of the Saudi economy and deregulation of markets, which the company strongly supports," it said.

The statement comes a day after The Economist published an interview of Saudi deputy crown prince Mohammed bin Salman, who said a share offer was under review.

Saudi Aramco said after studying the options the findings would be presented to the board of directors, which would make recommendations to the company's supreme council.

The council is chaired by Prince Mohammed and has overseen Saudi Aramco since it was separated from the oil ministry last year. The kingdom is confronted by unusual economic challenges caused by plunging global oil prices.

Last week, it reported a record deficit of $98 billion for 2015. It has projected a shortfall of $87 billion this year, with crude prices at around $34 a barrel, down from over $100 early in 2014.

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