Saudis in Talks to Sell Aramco Stake to Global Energy Firm

The kingdom is looking at the potential sale -- which could be worth about $19 billion, based on the company's market value -- as a way to lock in customer demand for the country's crude

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An employee rides a bicycle past oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia (Photo: Reuters)

Matthew Martin, Vivian Nereim, Reema Alothman and Abeer Abu Omar | Bloomberg

6 min read Last Updated : Apr 29 2021 | 1:00 AM IST

Saudi Arabia’s crown prince said the kingdom is in talks to sell a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast an economic rebound after the coronavirus pandemic.

The kingdom is looking at the potential sale -- which could be worth about $19 billion, based on the company’s market value -- as a way to lock in customer demand for the country’s crude, Crown Prince Mohammed Bin Salman said in a rare interview on a Saudi television channel late Tuesday. While providing few details on which company is involved in

Topics : Coronavirus Saudi Aramco Saudi Arabia Mohammed bin Salman Crude Oil Saudi royals

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