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Saudi Aramco IPO never been linked to oil market – CEO on TV

Amin H. Nasser, President and CEO of Saudi Arabian Oil Company Saudi Aramco, attends the Oil and Gas Climate Initiative summit in Paris, France, October 16, 2015. REUTERS/Jacky Naegelen/File Photo

DUBAI, Oct 24 (Reuters) – Saudi Aramco’s planned intitial public offering has never been linked to developments on oil markets, its chief executive told Al Arabiya television on Tuesday.

“The (initial public) offering since the beginning was never linked to the market or the condition of the market,” CEO Amin Nasser said, referring to developments on oil markets.

Speaking on the sidelines of a major investment conference in Riyadh, he also added that the company plans to double its petrochemicals investments. (Reporting by Reem Shamseddine, Writing by Sylvia Westall, Editing by William Maclean)

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