Saudi Aramco considering NY, London, Tokyo, HK for listing

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Saudi Aramco President and CEO Amin Nasser taking part in FII’s first panel discussion titled “The Big Shift: What New Frameworks Are Needed to Understand the Future?,” discussing economic and business transformations alongside leaders of global institutions such as Yasir Al-Rumayyan, Chief Executive, Managing Director, and Secretary-General of the Public Investment Fund; Victor Chu, chairman and CEO of First Eastern Investment Group; Larry Fink, chairman and CEO of BlackRock; and Christine Lagarde, managing director at the International Monetary Fund. — Courtesy photo



Saudi Gazette report

Riyadh
— Saudi Aramco’s chief executive said on Tuesday that domestic and international exchanges such as New York, London, Tokyo, and Hong Kong have been looked at for a partial listing of the state oil giant.

“All detailed information is currently being reviewed by our shareholder and in due course a decision will be made about the listing venue,” Aramco CEO Amin Nasser told reporters on the sidelines of the Future Investment Initiative in Riyadh.

Saudi Aramco President and CEO Amin Nasser took part in FII’s first panel discussion titled “The Big Shift: What New Frameworks Are Needed to Understand the Future?,” discussing economic and business transformations alongside leaders of global institutions such as Yasir Al-Rumayyan, Chief Executive, Managing Director, and Secretary-General of the Public Investment Fund; Victor Chu, chairman and CEO of First Eastern Investment Group; Larry Fink, chairman and CEO of BlackRock; and Christine Lagarde, managing director at the International Monetary Fund.

“Saudi Aramco is committed to supporting Vision 2030’s key aims of a diversified economy, anchored by a thriving private sector. Our strategic intent to become the world’s leading energy and chemicals company, which includes integrating across the petroleum value chain, expanding our downstream business and doubling our refining capacity, aligns with such key national goals through the creation of new industries and business lines, increased exports and quality jobs,” said Nasser.

“In the same way, Saudi Aramco’s technology focus on ultra-clean oil and gas and Carbon Capture, Utilization and Storage technologies that can turn legacy fuels into lower emission fuels, supports the Kingdom’s commitment to the Paris Agreement while also leveraging the economic power of long-term innovation.”

Nasser also said that Saudi Aramco’s efforts to increase the energy sector’s greater efficiency through localization and an emphasis on renewables likewise are growth engines for taking the economy beyond oil.


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