A new Aramco stake sale likely within 2 years

Stake sale: A file picture shows Aramco shares on an electronic board at the Riyadh stock exchange. Saudi Arabia is in talks to sell off a 1% stake in Aramco to a ‘leading global energy company’. — AFP

RIYADH: Saudi Arabia’s crown prince said the kingdom is in talks to sell off a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast a rebounding economy in the aftermath of the coronavirus pandemic.

The kingdom is looking at the potential sale – which could be worth about US$19bil (RM77.94bil) – as a way to lock in customer demand for the country’s crude, Crown Prince Mohammed Bin Salman said in a rare interview on a Saudi television channel.