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Saudi Aramco sale stake will be near 5%, prince says

Published 05/02/2017, 05:44 PM
© Reuters.  Saudi Aramco sale stake will be near 5%, prince says
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  • The planned sale of a stake in the Saudi Aramco national oil company "will be not be very far off 5%" and occur in 2018, Deputy Crown Prince Mohammed bin Salman says.
  • The Saudi government would retain sole control over Aramco's oil and gas reserves and would decide on production levels, and would have a concession to monetize those reserves, Prince Mohammed says.
  • The proceeds from the Aramco sale will help to develop other industries inside Saudi Arabia and will be invested by the kingdom's top sovereign wealth fund, according to the prince, who has said the IPO would value Aramco at ~$2T.
  • ETFs: USO, OIL, UCO, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
  • Now read: Crude Oil And Market Sentiment - A Lesson From A Children's Story


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