Saudi Aramco IPO to take place in 2018, Gulf oil minister says

  • Oman's Mohammed bin Hamad al-Rumhi was pressed for a definitive answer regarding his expectations over Saudi Aramco's potential IPO next year. He replied: "If CNBC says yes, then I say yes"
  • The initial public offering (IPO) for the world's largest energy company is expected take place in the second half of 2018
Simon Dawson | Bloomberg | Getty Images

Saudi Aramco's plan to take a portion of its business public next year will go ahead as scheduled in 2018, Oman's oil minister told CNBC Monday.

At an energy industry conference in Abu Dhabi, Oman's Mohammed bin Hamad al-Rumhi was pressed for a definitive answer regarding his expectations over Saudi Aramco's potential IPO next year. He replied: "If CNBC says yes, then I say yes."

The initial public offering (IPO) for the world's largest energy company is expected to take place in the second half of 2018. However, recent reports have suggested Saudi Aramco could move to delay its IPO into 2019 or even shelve the exercise altogether in favor of selling private shares to sovereign wealth funds.

Saudi Aramco's Chief Executive Amin Nasser told CNBC last month that the oil giant plans to list its shares on the Saudi domestic stock market, the Tadawul, and one or more foreign exchange in the second half of 2018.