Former US Secretary of State Baker Welcomes Saudi Aramco IPO Plans
HOUSTON, May 10 (Reuters) - Former U.S. Secretary of State James Baker said Saudi Arabia's plans for a public share offering may be "just what the doctor ordered" for the Kingdom, citing its need for "fundamental change."
Baker, who served as Secretary of State under President George H.W. Bush and joined a U.S. delegation to meet the new Saudi king last year, told a gathering of oil industry dealmakers that Saudi's "semi-revolutionary ideas" like the Aramco IPO could help the Kingdom deal with unemployment and budget deficits amid weak oil prices.
(Reporting by Luc Cohen; Editing by Diane Craft)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Aramco Is Not Alone as Saudi Arabia's Privatization Push Slows (Sep 20)
- Saudi Aramco In Early Talks On Jumbo Debt Deal (Sep 05)
- Sources: Aramco Plans To Ship First Crude Oil To Malaysia JV Refinery (Sep 04)