Commodities & Energy

Reuters reveals Aramco makes relatively little from foreign refining

Reuters reveals Aramco makes relatively little from foreign refining

Reuters revealed documents from Saudi Aramco show that the world’s largest oil firm earns only a limited proportion of its profit from foreign refining ventures, an area in which the company plans huge investment. The news comes as Aramco, according to Reuters sources, has delayed the planned launch of its initial public offering in hopes that pending third-quarter results will bolster investor confidence.