Singapore's Temasek rules out investment in Saudi Aramco IPO

A view shows Saudi Aramco’s Manifa oilfield Saudi Arabia

The Saudi state oil company could float 1% to 2% of its shares on its domestic exchange by late November or early December, WSJ.com said.

Crown prince Mohammed bin Salman has previously called for the firm to be valued at $2 trillion, while other Saudi officials and company executives have pegged Aramco's valuation closer to $1.5 trillion.

"Although oil production was restored fully by end-September, we believe that there is a risk of further attacks on Saudi Arabia, which could result in economic damage", Fitch said, explaining that move at the time.

At the beginning of the current month, the enormous Saudi oil company restored its production at the level prior to the attacks and processed 9.7 million units daily.

Attacks such as those on September 14, which sent oil prices up as much as 20%, may continue if there is no concerted global response, Amin Nasser told the Oil & Money conference in London, Reuters reported.

"You heard the minister of foreign affairs and I think he spoke enough about [where] the attacks [are] coming from". Yemen-based Houthi rebels claimed responsibility for blowing up the oil installations.

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Nasser also emphasised that "not one single customer" was affected by the cut in output after the attacks, with the company succeeding in efforts to calm the market and proving to its customers that "we are a reliable supplier".

Singapore's Temasek Holdings has decided against investing in Saudi Aramco's initial public offering over environmental concerns, Bloomberg reported.

Riyadh blamed adversary Iran for the strikes, a charge Tehran denied.

Then there is Saudi Aramco, which these years pumps just below 10 million barrels per day-more than the world's top four listed oil companies combined.

Aramco is poised to release its prospectus October 25 in Arabic, and follow up with an English version two days later, sources told WSJ.

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