Oil Rally Threatetned As China Reportedly Offers To Buy Aramco Stake Directly
Amid confusion over whether the massive Saudi Aramco IPO is on hold until 2019, or permanently shelved in favor of a private placement, Reuters suggests the latter is now more likely as 'sources familiar with the matter' say China is offering to buy up to 5 percent of Aramco directly (offering the Saudis the lack of transparency they may have been nervous of with a public placing).
As we noted previously, China has been very actively diversifying its sources of energy...