Aramco IPO ‘added value’ to oil industry: OPEC secretary general

Saudi Arabian Oil Co.’s (Saudi Aramco) planned initial public offering (IPO) is a “major breakthrough”, Al Eqtisadiah newspaper reported, citing OPEC Secretary-General, Mohammad Barkindo.

“Saudi Aramco’s public offering is a value addition to the crude oil industry around the world; and it will also boost global oil investments,” Barkindo added.

Barkindo adopted a “positive” outlook for the next OPEC meeting slated for December, as important decisions will be taken.

Last week, Saudi Aramco unveiled plans to go public and list shares on the Saudi Stock Exchange (Tadawul).

For more details about Saudi Aramco IPO