Aramco Share Sales Would Help ‘Transparency,’ Saudi Official Says

Saudi Arabia is reviewing whether to sell public shares in its state-owned oil company, Aramco, with a decision coming in the next few months, the country’s defense minister and deputy crown prince told The Economist in an interview published Thursday.

 

“Personally I’m enthusiastic about this step,” said Prince Mohammad bin Salman, 30. “I believe it is in the interest of the Saudi market, and it is in the interest of Aramco, and it is for the interest of more transparency, and to counter corruption, if any, that may be circling around Aramco.”

 

The discussions about selling shares in the Saudi Arabian Oil Company, better known as Saudi Aramco, come as energy prices are dropping and the country seeks to diversify its economy. The prince mentioned mining and revenue from religious tourism.

 

Read More: Aramco Share Sales Would Help ‘Transparency,’ Saudi Official Says – The New York Times