CEO Amin Nasser says prepared for the Saudi Aramco IPO in the second half of 2018. Photo: BloombergBengaluru: Saudi Aramco, the state oil company of Saudi Arabia, is considering entering India as part of its Asian expansion, Nikkei said on Tuesday, citing Aramco’s chief executive Amin Nasser who said that plans for an Indian oil refinery are crystallizing. “Saudi Aramco is looking at additional investments in China, and India is also a very important destination which we are giving great consideration, and (where we are) currently in discussion with some companies,” Aramco CEO Amin Nasser told the Nikkei Asian Review in an interview. The Saudi government has said it plans to sell about 5% of Aramco, hoping to raise some $100 billion or more in what would likely be the world’s biggest initial public offer (IPO). “At the moment, we are prepared for a listing in the second half of 2018,” Nasser confirmed to Nikkei.

Source: Mint January 30, 2018 12:00 UTC