Skip to content Skip to Search
Skip navigation

Saudi Aramco’s trading unit said to list on Tadawul by early 2023

Saudi extends oil cut Reuters/Maxim Shemetov
The three month extension of the oil production cut by Saudi Arabia was unexpected

Saudi Aramco is working with advisers for a possible listing of Aramco Trading, its energy-trading business, on the Saudi Exchange (Tadawul) by year-end or early 2023, Bloomberg reported, citing sources.

The Saudi-listed oil company is adding more banks to the IPO, which could value the unit at more than $30 billion.

In May, the news agency reported that three Wall Street banks had been appointed leading advisers.

The IPO of the Aramco subsidiary comes in the wake of growing tensions between Saudi Arabia and the US over the OPEC+ decision to cut production.

Established in 2011, Aramco Trading buys and sells crude oil, diesel and liquefied natural gas.

In his annual royal speech on Sunday, King Salman bin Abdulaziz Al Saud said that Saudi Arabia was striving to “support the stability and balance” of global oil markets, while also “moving at an accelerated pace” to face environmental challenges such as climate change.

Latest articles

Saudi Aramco CEO Amin Nasser (centre back) at the signing ceremony for the quantum computer deal with Pasqal

Aramco to use Saudi Arabia’s first quantum computer

Saudi Arabia plans to deploy its first quantum computer, after an agreement between the state oil company, Saudi Aramco, and the French computing company Pasqal.  Pasqal will install, maintain and operate a 200-qubit quantum computer, due for deployment in the latter half of 2025, Aramco said in a statement. Quantum computers use the principles of […]

A jet on the assembly line at the Airbus factory in Blagnac, France. Saudia says it is updating the interiors of its current fleet

Saudia announces ‘largest deal in Saudi aviation history’

Saudia, one of Saudi Arabia’s national carriers, has ordered 105 aircraft from Airbus, with the first batch due for delivery in early 2026. Saudia director general Ibrahim Al-Omar told an aviation industry forum in Riyadh that it is “the largest deal in Saudi aviation history”. A similarly large order has been made by new carrier […]

Pilgrims Saudi Malaysia

Pilgrim air terminal planned for Kuala Lumpur airport

Saudi Arabia and Malaysia are planning to build a pilgrimage air terminal in Kuala Lumpur to increase tourism numbers in both countries. Malaysia’s transport minister Anthony Loke told an aviation industry forum in Riyadh that it was looking with the Saudi Arabian government into “building and establishing a Hajj and Umrah hub” in Kuala Lumpur […]

Man looks out at Doha's skyline. Qatar's debt as a percentage of GDP is expected to be just over 37% in 2024

Qatar to use $549m budget surplus to reduce debt

Qatar recorded a budget surplus of QAR2 billion ($549 million) in the first quarter of 2024, its finance ministry has announced. The ministry said the surplus would be used to reduce public debt, according to the state-run Qatar News Agency. Total revenue was QAR53.4 billion ($14.7 billion) in Q1, down 22 percent year on year. […]