Media: Aramco wouldn't include oil reserves in the potential IPO

According to a media report, Saudi Aramco’s chairman on Sunday confirmed that the company’s potential sale of shares would not include the kingdom’s oil reserves, and the listing could be on local and international markets basis.

Early this month, the company told media that the listing could include at least part of its exploration and production assets. At the moment, the company is studying the possibility to include the stakes in Aramco’s refining and petrochemical units.

Aramco has more than 260 billion barrels of proven oil reserves and the equivalent of 50 billion barrels of natural-gas reserves.

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