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China proposes to buy 5 percent of Saudi Aramco directly, sources tell Reuters

gata.org / By Rania El Gamal and Alex Lawler via Reuters / October 16, 2017

China is offering to buy up to 5 percent of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world’s biggest oil producer on the stock market.

Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco in recent weeks to express an interest in a direct deal, industry sources told Reuters. The companies are part of a state-run consortium including China’s sovereign wealth fund, the sources say. …

… For the remainder of the report:

http://www.reuters.com/article/us-saudi-aramco-ipo-china-exclusive/exclu…

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