Saudi Aramco’s IPO may include upstream ops, says Al-Falih

Saudi Aramco’s potential initial public offering (IPO) may include part of its crude reserves, The Wall Street Journal (WSJ) reported on Monday, citing the company’s chairman Khalid Al-Falih.

“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, confirming that no decision has been taken yet.

The state-owned company is considering the sale of shares in some downstream assets, including refining and petrochemicals ventures with foreign partners.

The units already chosen for stand-alone listings include Sadara Chemical Co., Saudi Aramco Total Refining and Petrochemical Co. (SATORP), and Yanbu Aramco Sinopec Refining Co.

The primary focus is selling on the Saudi Stock Exchange (Tadawul), but Al-Falih added that the share listing might be extended to international markets.