Saudi Arabian Oil Co. (Saudi Aramco) has denied talks with Chinese investors over a sale of a stake, as part of its planned international public offering, CNBC reported, citing CEO Amin Nasser.

 

Saudi Aramco's IPO will take place in 2018 as planned and the listing venue would be revealed in due course, Nasser added.

 

"We have always said that we will be listing in 2018, and to be more specific, in the second half of 2018," he said.

 

He added: "The IPO is on track. The listing venue will be discussed and shared in due course."

 

Saudi Aramco has been building up its reserves over the last three years through a strong exploration program, said Nasser, adding that the company will fulfill the needs of the international market. 

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