Is A Saudi Aramco IPO Happening? Sources Mixed On Prospects

According to a report by

, the Saudi Arabian government is considering issuing shares of its refining ventures, but not in its crude oil exploration and production operations - which would include Saudi Aramco. Reuters, citing "sources familiar with official thinking," noted that Saudi Aramco's managers have been told that the company is considering listing shares in "joint downstream subsidies." The report added that a holding company would be created that would group together Saudi Aramaco's stakes in the downstream subsidiaries, but shares in the parent company would not be issued. "The holding company is the one which could be listed, not Aramco itself," Reuters source was quoted as saying. "The government will never give up its crown jewel," a senior banker in Riyadh also told Reuters.

Chairman: 'We Are Considering A Listing'

On the other hand,

The Wall Street Journal reported that Khalid Al-Falih, Chairman of Saudi Aramco suggested that an IPO could be of the oil giant could become a reality. "We are considering a listing at the top. So a listing of the main company, and obviously the main company will include upstream," Al-Falih said. However, he added "there is no plan that is concrete at this stage to do the listing." Al-Falih added that at this point there is merely "serious considerations."

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