The Persian Gulf was poised this year for a financial revolution that never arrived. After Saudi Arabia’s national oil company launched plans for the world’s biggest public offering in early 2016, a wave of energy-related IPOs was supposed to sweep across the region, transforming many traditionally statist oil companies. But the partial privatization of Saudi Arabian Oil Co., better known as Aramco, was put on hold, creating ripple effects across the Gulf.

Source: Wall Street Journal December 16, 2018 12:56 UTC