{"id":754,"date":"2021-04-28T13:58:01","date_gmt":"2021-04-28T10:58:01","guid":{"rendered":"https:\/\/sirius-energy.com\/blog\/?p=754"},"modified":"2021-04-28T13:58:01","modified_gmt":"2021-04-28T10:58:01","slug":"saudi-crown-prince-says-the-kingdoms-in-talks-to-sell-1-of-aramco-to-a-leading-global-energy-firm","status":"publish","type":"post","link":"https:\/\/sirius-energy.com\/blog\/2021\/04\/28\/saudi-crown-prince-says-the-kingdoms-in-talks-to-sell-1-of-aramco-to-a-leading-global-energy-firm\/","title":{"rendered":"Saudi crown prince says the kingdom\u2019s in talks to sell 1% of Aramco to a \u2018leading global energy\u2019 firm"},"content":{"rendered":"

\"climate-carbon\" \"global<\/p>\n

\n

Saudi Arabia is in talks to sell 1% of state-backed oil giant Saudi Aramco to a \u201cleading global energy company,\u201d\u00a0the kingdom\u2019s crown prince told a Saudi-owned news channel this week.<\/p>\n

\u201cI don\u2019t want to give any promises, but there\u2019s a discussion for the acquisition of a 1% stake by a leading global energy company,\u201d Crown Prince Mohammed bin Salman said in an interview on Saudi television, according to CNBC\u2019s translation of his Arabic comments.<\/p>\n

\u201cThat will be a great deal to enhance the sales of Aramco in the country where this company (is based),\u201d he said. The prince did not name the company but said it is from a \u201chuge\u201d country.<\/p>\n

He also said there are discussions with other firms, and some Aramco shares could be transferred to the kingdom\u2019s sovereign wealth fund, the Public Investment Fund. Some shares may be listed on the Saudi market as well.<\/p>\n

The interview marked the fifth anniversary of the Saudi Vision 2030, a multi-billion dollar plan aimed at diversifying the country\u2019s economy away from oil reliance.<\/p>\n

Saudi Aramco was the world\u2019s biggest IPO when it went public in December 2019,\u00a0and listed around 1.5% of its shares on the local stock exchange, the Tadawul.<\/p>\n

The initial public listing raised $25.6 billion, and\u00a0the company later exercised its \u201cgreenshoe option\u201d to sell 450 million more shares, bringing the total size to $29.4 billion.<\/p>\n

The Saudi government owns more than 98% of Aramco\u2019s shares.<\/p>\n<\/div>\n

U.S.-Saudi relations<\/h2>\n
\n

The crown prince also spoke about U.S.-Saudi relations in the interview.<\/p>\n

He said Saudi Arabia and the Biden administration disagree on only a few issues.<\/p>\n

\u201cWe are more than 90% in agreement with the Biden administration when it comes to Saudi and U.S. interests and we are working to strengthen these interests,\u201d the prince said,\u00a0according to a Reuters translation.<\/p>\n<\/div>\n

\n
\n
\n
\"Saudi<\/div>\n<\/div>\n
\n
Crown Prince of Saudi Arabia Mohammed bin Salman attends the 41st Summit of Gulf Cooperation Council in Al-Ula, Saudi Arabia on January 05, 2021.<\/span><\/strong><\/div>\n
Royal Council of Saudi Arabia | Anadolu Agency | Getty Images<\/span><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n

\u201cThe matters we disagree on represent less than 10% and we are working to find solutions and understandings \u2026 there is no doubt that the United States is a strategic partner,\u201d he said, according to Reuters.<\/p>\n

The prince, who is the kingdom\u2019s de facto leader, was snubbed by the U.S. earlier this year when the White House announced that President\u00a0Joe Biden\u00a0will be\u00a0engaging with his counterpart, King Salman, instead of speaking to the crown prince. It was part of a recalibration of U.S.-Saudi relations after the kingdom enjoyed good relations with Washington under the Trump administration.<\/p>\n

The U.S. also\u00a0released an intelligence report in February\u00a0that pointed to the crown prince as the one who approved an operation to capture or kill journalist Jamal Khashoggi, a strong and outspoken critic of the Saudi royals.<\/p>\n

Secretary of State Antony Blinken imposed visa restrictions on 76 Saudi individuals \u201cbelieved to have been engaged in threatening dissidents overseas, including but not limited to the Khashoggi killing.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia is in talks to sell 1% of state-backed oil giant Saudi Aramco to a \u201cleading global energy company,\u201d\u00a0the kingdom\u2019s crown prince told a Saudi-owned news channel this week. \u201cI don\u2019t want to give any promises, but there\u2019s a discussion for the acquisition of a 1% stake by a leading global energy company,\u201d Crown […]<\/p>\n","protected":false},"author":2,"featured_media":756,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,5],"tags":[134,98,135],"class_list":{"0":"post-754","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-clean-energy","8":"category-technology","9":"tag-aramco","10":"tag-global-energy","11":"tag-u-s-saudi-relations"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/sirius-energy.com\/blog\/wp-content\/uploads\/2021\/04\/106436307-1583921374386gettyimages-1175389258.jpeg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pahFMi-ca","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/posts\/754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/comments?post=754"}],"version-history":[{"count":1,"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/posts\/754\/revisions"}],"predecessor-version":[{"id":757,"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/posts\/754\/revisions\/757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/media\/756"}],"wp:attachment":[{"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/media?parent=754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/categories?post=754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sirius-energy.com\/blog\/wp-json\/wp\/v2\/tags?post=754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}