Aramco IPO opportunity for Chinese investment: Bernstein Prince Salman scheduled to attend Group of 20 Summit in China China and Japan, Saudi Arabia’s biggest oil buyers in Asia, are preparing for a visit by the kingdom’s Deputy Crown Prince Mohammed bin Salman, an opportunity to deepen energy ties as the world’s largest crude exporter prepares what’s expected to be the biggest IPO ever. Selling about 5 percent of the state-run oil producer Saudi Arabian Oil Co., which is estimated to raise about $100 billion, is key to the deputy crown prince’s plan to expand the nation’s economy beyond petroleum. The company also intends to invest in Asian refineries to lock-in buyers in countries including China, India, Indonesia, Malaysia and Vietnam. “The relationship with Asia is going to be absolutely critical over the coming years as demand increasingly shifts in this direction,” said Neil Beveridge, a Hong Kong-based analyst at […]