Saudi Aramco said to consider fuel unit IPO

Saudi Aramco is reportedly considering selling a stake in its retail fuels and lubricants business, and could list shares on the Riyadh stock exchange.

Bloomberg cited people with knowledge of the situation as saying that talks about an initial public offering are at an early stage and Aramco may opt against any sale.

Aramco set up a retail unit in 2018 to expand its downstream operations. A year later, the company agreed to develop a Saudi gasoline-station chain with French oil major TotalEnergies SE.