Apart from trying (and managing) to talk up oil markets in recent months, Saudi Arabia has been stoking investment banks as well with the plan to sell 5 percent of its most valuable asset and possibly the world’s most valuable company, Saudi Aramco. The initial public offering (IPO) of shares in the state-run oil company, which Saudi officials claim is worth US$2 trillion, is now in the plans for 2018. Proceeds from the possible listing would go to diversify the Saudi economy away from oil. But as 2017 begins, with oil prices in the US$50s compared to US$30s in January last year, Saudi officials may not see Aramco’s share sale as urgent as they did in early 2016 when they announced the plans for an IPO. The Saudis expect the kingdom’s oil revenues to jump this year compared to last year. Then incoming U.S. President Donald Trump as well […]