[에너지신문] 04 April 2016 - The government of Saudi Arabia plans to sell a stake of less than 5% in its giant state-owned oil company Saudi Aramco; the group would be listed on the stock exchange as early as 2017 and no later than 2018. The mother company and several of its subsidiaries will be offered to the public. The remaining 95% would still be state-owned but would be controlled through the Public Investment Fund, a sovereign wealth fund.
Saudi Aramco is the largest oil exporter worldwide and its oil reserves are nearly 10-fold higher than those held by ExxonMobil. In addition, Saudi Aramco benefits from low production costs,
valuing the group at more than US$2,500bn even based on a conservative valuation of US$10/bbl. The company has a refining capacity of around 5.4 mbl/d through its stakes in domestic and foreign joint ventures; it aims at doubling its capacity to 10 mbl/d.
-http://www.energy-news.co.kr/news/adminArticleWriteForm.html?mode=input