Reuters reported Wednesday that “major Chinese investors” are in talks to buy a stake in Saudi Aramco, the national oil company of Saudi Arabia.
Saudi Crown Prince Mohammed bin Salman (MBS) mentioned the possibility of selling some Aramco stock in a television interview Tuesday.
“I don’t want to give any promises but there’s a discussion for acquisition of one percent of one of the pioneer companies for energy that will be a great deal to enhance the sales of Aramco in the country of this company,” he said.
“I cannot mention the name but it’s a huge company, and obtaining one percent will reinforce the industries of Aramco and will promote that,” he added.
Reuters immediately noted China’s state-owned PetroChina and Sinopec previously expressed interest in buying up to five percent of Aramco in 2017.
Aramco raised almost $30 billion with its initial public offering in 2019,