Saudi Aramco is said to call off IPO
Looks like there were more questions than expected. I would look into the substance of the companies numbers on economically recoverable oil reserves. They have a fishy tang.
Saudi Arabian Oil Co. is focusing on buying a strategic stake in chemical giant Saudi Basic Industries Corp., putting work on its potential initial public offering on hold, according to people familiar with the matter. While the move will further delay the IPO, it does not mean the planned share sale is formally canceled, the people said, asking not to be identified because the matter is private. Aramco, as the company is known, wrote to some but not all of its advisers on the IPO and asked them to suspend work for now, one of the people said.
