Aramco is attracting sovereign wealth funds to evaluate its $ 2 trillion IPO

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Saudi Aramco has approached Abu Dhabi Investment Authority, Singapore's GIC and other sovereign wealth funds to invest in the local slot to list the oil giant as it seeks to achieve its $ 2 trillion target, sources said.

The sources told Reuters that after initial talks in recent months between Saudi Arabia and governments in the Gulf and Asia, contacts began with the sovereign wealth funds of these countries through banks appointed to manage the initial public offering of Aramco.
A source said a meeting was planned in October between Aramco's management and staff from the Abu Dhabi Investment Authority, the world's third largest sovereign wealth fund.

A second source confirmed that the Abu Dhabi Investment Authority was approached, while two other sources said the Singapore GIC Fund was also contacted.

Three sources familiar with Aramco's operations have said that "Saudi Arabia has recovered its oil production capacity to 11.3 million barrels per day after the September 14 attacks on two of its oil facilities."

"The production of Saudi crude oil from Khurais field is now 1.3 million barrels per day, and about 4.9 million barrels from the Abqaiq field now," the sources told Reuters.

Yemen's Ansar Allah group on Saturday (September 14th) claimed a drone attack on two oil facilities belonging to Saudi oil giant Aramco in Abqaiq and Hijrat Khurais in Saudi Arabia's eastern region.



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