ST. PETERSBURG (Sputnik) — In January, Saudi state-owned oil giant Saudi Aramco announced that it was considering conducting an IPO. In May, Aramco's chief executive said that proposals for its partial privatization have been finalized and will soon be proposed to the company's Supreme Council.
BP is unlikely to invest in Aramco shares, Dudley told reporters during the ongoing St. Petersburg International Economic Forum (SPIEF) in Russia.
Earlier in June, the Russian LUKoil oil giant also said it is not interested in taking part in Aramco's privatization.
Aramco controls nearly all of Saudi Arabia's oil production. The Saudi government ran into fiscal problems due to the slump in global oil prices since mid-2014. The country's budget went into deficit in 2014.
