Aramco, Total to Sell 25% of Refinery in IPO, Al-Awsat Reports
By Zainab Fattah
Sept. 29, 2008 (Bloomberg) — Saudi Aramco and Total SA of France plan to sell 25 percent of their joint-venture oil refinery to the Saudi public in an initial public offering, Asharq al-Awsat reported today, without saying where it got the information.
State-owned Aramco and Total will each own a 37.5 percent stake in project, the newspaper reported. The companies will build an oil refining and petrochemical complex in Jubail, Saudi Arabia, which is expected to start operations by 2012.
To contact the reporter on this story: Zainab Fattah in Dubai on firstname.lastname@example.org Last Updated: September 29, 2008 01:02 EDT