Policy & Regulation

Aramco IPO decision may slow economic reform

Saudi Arabia has decided to postpone the IPO of its national oil and gas company, a move that could be a result of political factors Saudi Arabia has decided to postpone the IPO of its national oil and gas company, a move that could be a result of political factors.
By Peter Stewart 12 September 2018 0 32508
Crown Prince Mohammed bin Salman. (PA)

Saudi Arabia’s decision to postpone the initial public offering (IPO) of shares in Saudi Aramco, the world’s largest oil and gas company, may be a result of pressure within the ruling Al Saud family to rein in the influence of the powerful but controversial Crown Prince Mohammed bin Salman.

The IPO was announced by the crown prince, popularly known as MBS, in January 2016, when Saudi Arabia’s foreign exchange reserves had declined because of oil prices that had fallen below $30 per barrel....