Saudi Aramco Considering Expansion to India

Tuesday, January 30, 2018
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 CEO who said that plans for an Indian refinery are crystallising.
"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 percent 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.
Saudi officials have said they may list Aramco on one or more foreign markets such as New York, London and Hong Kong in addition to Riyadh, which would boost the company's global profile and reduce the strain on the Saudi market.


(Reporting by Susan Mathew, editing by Louise Heavens)
Categories: Energy Finance People & Company News

Related Stories

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

Aesen, DOC JV Targets Subsea Cable Logistics

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

PV Drilling Takes Ownership of Noble Corporation’s Stacked Jack-Up Rig

Aquaterra Energy Nets Subsea Analysis Contracts with INPEX off Indonesia

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

Floating Offshore Wind Test Center Planned for Japan

Norwegian Oil Investment Will Peak in '25

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Current News

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

SBM Offshore, SLB to Optimize FPSO Performance Using AI

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com