Riyadh – Mubasher: Saudi Arabian Oil Company, better known as Saudi Aramco, expects to float parts of its stakes in some subsidiaries on the Saudi Stock Exchange (Tadawul), according to a prospectus issued by the kingdom-based oil giant.

Saudi Aramco, the world's largest oil producer, is considering the partial sale of its stakes in Saudi Aramco Total Refining and Petrochemical (SATORP) and Yanbu Aramco Sinopec Refining (YASREF), a joint operation between Aramco and Sinopec, in the near future.

The oil conglomerate, which produces around 10% of the world's crude, is also expected to sell a portion of its stake in Sadara Chemical Company in an initial public offering (IPO) on the Saudi bourse.