Aramco Is Not Alone as Saudi Arabia's Privatization Push Slows - Bloomberg

Aramco Is Not Alone as Saudi Arabia's Privatization Push Slows - Bloomberg:

Aramco may have grabbed the biggest headlines, but the oil giant’s delayed initial public offering is just the latest sign of Saudi Arabia’s slowing privatization push. 


The program is part of Crown Prince Mohammed bin Salman’s Saudi Vision 2030 to transform the economy and envisages the sale of stakes in ports, railways, utilities and airports. When the government began to consider the plans almost three years ago, Brent crude traded at less than $40 a barrel.

With oil prices now twice as high, there seems to be less urgency, even though the International Monetary Fund in July recommended privatization be accelerated. News in August that the sale of shares in Saudi Arabian Oil Co. was on hold was the most dramatic suggestion that officials were taking their feet off the pedal.