PetroChina said to consider bigger stake in Aramco IPO

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One of China’s largest oil and gas company, PetroChina said it will consider taking part Saudi Aramco’s initial public offering based on “market conditions”.

PetroChina will be the second Chinese oil major to discuss becoming an investor this week.

“Saudi Aramco has raised this plan to PetroChina,” said president and vice chairman Wang Dongjin on Thursday at a briefing following the announcement of China’s largest oil and gas producer’s 2016 results.

“I think we will make our evaluation and study based on the market situation,” Wang said.

On Monday, Sinopec Corp said Aramco president had visited the firm and both sides would have talks on the IPO, which is expected to be the world’s largest equity sale.

 

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