News 24 | Sources: Aramco is considering an IPO of its retail fuel and oil trading company

News 24 | Sources: Aramco is considering an IPO of its retail fuel and oil trading company
News 24 | Sources: Aramco is considering an IPO of its retail fuel and oil trading company

Sources said that Saudi Aramco is studying the possibility of selling a share of its retail fuel and oil trading company and offering it to the public.

The sources told the “Ghawar” program on the “Al-Ekhbariya channel”, that the decision has not been taken yet and is still under discussion, and the company has dismissed it.

It is noteworthy that in December 2018, Saudi Aramco announced the establishment of Saudi Aramco Retail Company, as a wholly owned subsidiary, with the aim of establishing a chain of stations to sell refined fuel products to consumers. The new company, “Retelco,” will be responsible for all retail fuel activities in the Kingdom.

 
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