Aramco also has a wholly-owned subsidiary in India called Aramco Asia India which is engaged in purchasing and other services.
The shift from scarcity to abundance has been brought about in an astonishingly short time by America's "fracking" revolution, leading to massive benefits for consuming countries
To lure investors, Aramco has promised a bumper dividend payment of at least $75 billion a year
Rising tensions in West Asia, following the attack on Saudi Arabia's largest oilfield Aramco, has added fuel to fire with respect to gold
Abu Dhabi's state investor Mubadala Investment Co has also been approached by Aramco's advisers
The government is looking to list 2% of the company on the Saudi bourse rather than listing the entire share capital on the exchange, the sources said.
The state-owned firm is the world's largest oil producer, pumping 10% of the world's supply, and the most profitable company with its half-year net profit rising 12% to $46.9 billion.
Aramco could offer 1%-2% of its shares, raising as much as $20 billion to $40 billion
Saudi Arabia is pulling out all the stops to ensure the success of Aramco's initial public offering after Crown Prince Mohammed bin Salman finally decided to offer shares
The approval shall be valid for six months, and the company's prospectus will be published prior to the start of the subscription period, according to the statement
It's a relatively modest life for a top executive at the Saudi oil giant
Aramco IPO was delayed several times as international investors balked at the $2 trillion valuation Mohammed bin Salman placed on the company.
So far, Abu Dhabi National Oil Co is the only foreign company storing oil in India's strategic reserves, at Mangalore, also in Karnataka
The Aramco listing is expected to be a major topic at a major investment summit that opened Tuesday in Riyadh
The forum was launched in 2017 to showcase Saudi Arabia's future away from oil
Investment bankers from around the world have been pitching for years to win a coveted role on Aramco's IPO
On September 30, the group of secretaries on disinvestment gave its approval for to sell government's entire 53.29 per cent stake in BPCL, which is likely to be completed by March 31, 2020.
Aramco obtained its first credit rating of A+ by Fitch in April ahead of its inaugural public bond issue.
India's diversified crude and product basket was one reason that helped India in avoiding the Saudi Aramco crisis.
Just as it happened in the digital arena, electric and driverless cars are going to be disruptive for companies that resist change