10/10, 5:55 PM (Source: TeleTrader)
more TeleTrader news

Key Aramco valuation to be delivered Friday - report

Investment bankers of Saudi Arabia's oil giant Saudi Aramco Oil Co. might deliver final recommendations regarding the valuation of the state-owned company as soon as Friday, the Wall Street Journal wrote on Thursday, citing people familiar with the matter.

According to sources, the $1.5 trillion valuation, suggested by company executives who are working on the offering, has gained support among underwriters in charge of kindling investors' interest and now seems more likely than the previous one proposed by the kingdom's Crown Prince Mohammed bin Salman, who targeted the valuation at $2 trillion.

Previous reports about the company's valuation suggested late October as a potential date of publication.

West Texas Intermediate for delivery in November gained 0.84% at 11:51 am ET, going for $53.17 per barrel, while the international benchmark Brent for December delivery added 0.57% at the same time, changing hands for $58.67 a barrel.

Breaking the News / GG