Aramco raises light oil pricing to Asia

Bloomberg

Saudi Aramco raised December pricing for sales of its light oil grades to Asia to their highest levels since 2014, just a day after announcing it will sell shares for the first time. The state-owned oil producer increased monthly pricing for shipments of all crudes to the US.
Aramco increased its official selling price for flagship Arab Light crude to buyers in Asia by 40 cents a barrel, to a premium of $3.40 over the Middle East benchmark.
Four traders and refiners in a Bloomberg survey had expected pricing for the grade to rise by 25 cents a barrel to a premium of $3.25.
The producer formally confirmed its intention to sell stock on the domestic exchange in Riyadh as early as next month, in what could be the world’s biggest initial public offering. Aramco and the Saudi government added sweeteners including lower taxes and the potential for higher dividends to attract investors.

Aramco Delays Payment on Sabic Acquisition
Saudi Aramco will delay fully paying for the acquisition of a 70% stake in petrochemicals company Sabic by four years until September 2025 under terms of a new deal agreed on last month.
The Saudi oil giant will also only pay the kingdom’s sovereign wealth fund about a third of the $69.1 billion price tag in cash, down from half previously, the oil firm said in its intention-to-float announcement.

on Sunday. The purchase of the Public Investment Fund’s stake in Saudi Basic Industries Corp., as the company is formally known, is set to close in the first half of 2020, the document shows.

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