Saudi Aramco, the world’s largest oil firm, will not issue more bonds this year after its debut $12 billion international debt sale earlier this month, Chief Executive Amin Nasser said during the Financial Sector Conference in Riyadh.

 

Aramco’s future debt issues will depend on its funding requirements, but the firm will maintain a prudent approach in managing its balance sheet, he said.

 

Speaking in Riyadh, Nasser said Aramco IPO is up to the Saudi government and will be done after its acquisition of a majority stake in Saudi petrochemical maker SABIC is closed.

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