DUBAI, United Arab Emirates – Saudi Arabia says it "remains committed" to a first public offer by the state-owned oil broom Saudi Arabia, despite delays and growing speculation that it is never mentioned.
The Saudi Minister for Energy, Khalid al-Falih, made a statement on Thursday saying: "The timing will depend on multiple factors, including favorable market conditions, and a downstream acquisition that the company will pursue over the coming months, as required by the board board. "
Al-Falih has not worked it out. However, it is likely that the acquisition by Saudi Arabia Oil Co. of an interest in the petrochemical company SABIC has been purchased.
The IPO of Aramco is an important plank of the economic plans of 32-year-old crown prince Mohammed bin Salman for the kingdom.
However, there have been delays. Reuters said Wednesday anonymous officials who said the IPO had been scrapped.