Aramco IPO: It's a thanks, but no thanks from Malaysia's Petronas - Reuters

Aramco IPO: It's a thanks, but no thanks from Malaysia's Petronas - Reuters:

With Saudi Aramco yet to name any major foreign investors in its upcoming share sale, Malaysia’s state energy company Petronas [PETR.UL] decided to take a pass on Friday.

Expectations that Aramco customers and allies around the world would take significant stakes in the company have so far not materialized, with the listing looking like it will be reliant on local retail and institutional investors.

Aramco, which kicked off the share sale process on Nov. 3 after a series of false starts, declined to comment to Reuters on the lack of any named anchor investors in its listing so far.

Last week Russia’s second largest oil producer Lukoil (LKOH.MM) said it would not be investing in the initial public offering (IPO) which is likely to rank Aramco as the world’s most valuable company.

With young prince and PR push, #SaudiArabia ready to take over G20 reins - Reuters

With young prince and PR push, Saudi Arabia ready to take over G20 reins - Reuters:

Saudi Arabia is set to take over the G20 presidency for a year as it seeks to bounce back from an uproar over its human rights record and last year’s killing of journalist Jamal Khashoggi.

The kingdom’s new foreign minister, a prince with diplomatic experience in the West, landed in Japan’s Nagoya city on Friday to meet with his counterparts from the Group of 20 nations.

Prince Faisal bin Farhan Al Saud was appointed in October in a partial cabinet reshuffle, joining a new generation of royals in their 40s who rose to power under Crown Prince Mohammed bin Salman, 34, the de facto ruler of the world’s top oil exporter.

Saudi Arabia - a key U.S. ally in confronting Iran - has faced heavy Western criticism over the murder of Saudi national Khashoggi, its detention of women’s rights activists and its role in the devastating war in Yemen.