Finance

Saudi Aramco chairman says IPO could be open to international markets: Arabiya TV

Saudi Aramco Chief Executive Officer Khalid al-Falih speaks to the media at the company's booth during Petrotech 2014 (a petrochemicals conference) at the Bahrain International Exhibition Centre in Manama May 19, 2014. REUTERS/Hamad I MohammedThomson ReutersSaudi Aramco Chief Executive Officer Khalid al-Falih speaks to the media at the company’s booth during Petrotech 2014 in Manama

DUBAI (Reuters) – Saudi Aramco Chairman Khalid al-Falih said on Sunday an initial public offering of the world’s largest oil firm could be on the local or international markets but would not include Saudi oil reserves, according to Dubai-based al-Arabiya TV.

“The reserves would not be sold, but the company’s ability to produce from the reserves is being studied,” he told the satellite channel in an interview from Davos, Switzerland where the annual World Economic Forum was held last week.

Aramco has crude reserves of about 265 billion barrels, over 15 percent of all global oil deposits. If it went public, it could become the first listed company valued at $1 trillion, analysts have estimated.

(Reporting By Noah Browning and Hadeel al-Sayegh; Editing by Sami Aboudi and Mark Heinrich)

Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

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