The approach is being considered, alongside several other options for the sale of shares in Aramco, but so far no decision has been taken on whether it will proceed to a full deal, according to people familiar with the Russian move, who did not want to be identified. They were speaking at the World Economic Forum annual meeting in Davos.
There is also the possibility of a joint investment by Russian and Chinese investors. Several institutions from the two counties have formed joint vehicles for investment, with a big emphasis on energy and other infrastructure projects.
Reuters reported that Kirill Dmitriev, head of the Russian Direct Investment Fund, was considering an investment in Aramco as part of a long-term strategy for Russia and Saudi Arabia to coordinate energy policy more closely.
“We see great interest in the Aramco IPO from Russian pension funds as well as from our Chinese partners,” Dmitriev told Reuters.
Aramco has already said it is considering a wide range of options for the IPO, which would be by far the biggest in history if it meets official valuations.
Policymakers in the Kingdom have said they would sell 5 percent of Aramco, with an official valuation of $2 trillion on the whole company.
If the Russians bought $10 billion of shares — as has been speculated — it would represent 10 percent of the shares in sale in an IPO at the official valuation.
Options under discussion include a big sale on an international stock exchange in conjunction with a listing on the Tadawul market in Riyadh; an option for a private sale of shares to foreign investors; or a trade sale at the same time as a Riyadh listing with a commitment to sell more on a global exchange later on.
Policymakers have repeatedly committed to undertake an IPO In 2018, without specifying the exact form the share offering would take.
Aramco’s priority is to maximize the valuation of the IPO as a way of demonstrating the value of Aramco to the KIngdom, and in comparison with its international peers in the oil industry.
Aramco has by far the biggest reserves of crude of any oil company in the world, and even after agreeing cuts with non-OPEC member Russia last year, still exports more oil than any other company.
Independent valuations of Aramco’s reserves are in progress, and regarded as essential to helping achieve IPO targets.
Russian investors eye Aramco share deal ahead of IPO
Russian investors eye Aramco share deal ahead of IPO
Saudi Arabia, Japan trade rises 38% between 2016 and 2024, minister says
RIYADH: Trade between Saudi Arabia and Japan has increased by 38 percent between 2016 and 2024 to reach SR138 billion ($36 billion), the Kingdom’s investment minister revealed.
Speaking at the Saudi-Japanese Ministerial Investment Forum 2026, Khalid Al-Falih explained that this makes the Asian country the Kingdom’s third-largest trading partner, according to Asharq Bloomberg.
This falls in line with the fact that Saudi Arabia has been a very important country for Japan from the viewpoint of its energy security, having been a stable supplier of crude oil for many years.
It also aligns well with how Japan is fully committed to supporting Vision 2030 by sharing its knowledge and advanced technologies.
“This trade is dominated by the Kingdom's exports of energy products, specifically oil, gas, and their derivatives. We certainly look forward to the Saudi private sector increasing trade with Japan, particularly in high-tech Japanese products,” Al-Falih said.
He added: “As for investment, Japanese investment in the Kingdom is good and strong, but we look forward to raising the level of Japanese investments in the Kingdom. Today, the Kingdom offers promising opportunities for Japanese companies in several fields, including the traditional sector that links the two economies: energy.”
The minister went on to note that additional sectors that both countries can also collaborate in include green and blue hydrogen, investments in advanced industries, health, food security, innovation, entrepreneurship, among others.
During his speech, Al-Falih shed light on how the Kingdom’s pavilion at Expo 2025 in Osaka achieved remarkable success, with the exhibition receiving more than 3 million visitors, reflecting the Japanese public’s interest in Saudi Arabia.
“The pavilion also organized approximately 700 new business events, several each day, including 88 major investment events led by the Ministry of Investment. Today, as we prepare for the upcoming Expo 2030, we look forward to building upon Japan’s achievements,” he said.
The minister added: “During our visit to Japan, we agreed to establish a partnership to transfer the remarkable Japanese experience from Expo Osaka 2025 to Expo Riyadh 2030. I am certain that the Japanese pavilion at Expo Riyadh will rival the Saudi pavilion at Expo Osaka in terms of organization, innovation, and visitor turnout.”
Al-Falih also shed light on how Saudi-Japanese relations celebrated their 70th anniversary last year, and today marks the 71st year of these relations as well as how they have flourished over the decades, moving from one strategic level to an even higher one.
