Saudi Arabia's minister of energy, industry and mineral resources, said the government is planning a stock market debut for the country's oil and gas monopoly, all subsidiaries and refineries. According to Khalid al-Falih's remarks quoted by Okaz newspaper on Thursday, the initial public offering of Saudi Arabian Oil Co., or Aramco will be conducted within two years.
Exports are at one million barrels per day of derivatives and petroleum products each, together with seven to eight million barrels per day of crude, he noted and asserted the environment for attracting foreign investment is "the best." Equal treatment brought improvement for the kingdom in the area, the former chief executive of Aramco added. More investments are in the pipeline for manufacturers, he revealed and pointed to refining, the automotive sector, chemical and petrochemical firms.
