Aramco may list downstream oil assets after acquiring chemical firm SABIC, strategists say [CNBC]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: CNBC
Reza/Getty Images A worker stands at a pipeline, watching a flare stack at the Saudi Aramco oil field complex facilities in Shaybah, Saudi Arabia. Saudi Aramco may consider spinning off its growing downstream division, which includes oil refining assets, a business where the oil giant is investing heavily to meet rising fuel demand in Asia, strategists said. Aramco must first complete its planned acquisition of a strategic stake in Saudi petrochemical maker SABIC before deciding whether to list its downstream business. No decision has been made and Saudi Aramco declined to comment on what it called rumors or speculation. Riyadh-listed SABIC, the world's fourth-biggest petrochemicals company, is 70 percent owned by the Public Investment Fund (PIF), Saudi Arabia's top sovereign wealth fund. It has a market capitalization of 385.2 billion Saudi riyals ($103 billion). The first step will be completing the acquisition of the 70 percent of
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