Economics
In Saudi Aramco IPO, Global Refining Empire May Be the Prize
- Saudi state-owned company mulls `bundle' of refiners listing
- Aramco will be world's top refiner by 2020, overtaking Exxon
Saudi Aramco Eyes IPO
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Investors hoping a Saudi Arabian Oil Co. IPO will provide a chance to buy a stake in the world’s largest crude producer may have to wait. The company says one option is to sell shares in its refining assets rather than the parent.
While that would lock private capital out of the world’s biggest oil fields, it still offers an immense global business with plants spread from Louisiana to Japan, processing more than 3.1 million barrels a day.