Energy

Saudi Arabia in talks to sell 1% of Aramco to a ‘global energy’ firm

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Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field.

Stanislav Krasilnikov | TASS via Getty Images

Saudi Arabia is in talks to sell 1% of state-backed oil giant Saudi Aramco to a “leading global energy company,” the kingdom’s crown prince told a Saudi-owned news channel this week.

“I don’t want to give any promises, but there’s a discussion for the acquisition of a 1% stake by a leading global energy company,” Crown Prince Mohammed bin Salman said in an interview on Saudi television, according to CNBC’s translation of his Arabic comments.

“That will be a great deal to enhance the sales of Aramco in the country…



Source cnbc.com

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