PetroChina says it will consider taking part in national oil giant Saudi Aramco’s initial public offering based on market conditions.

Reuters

BEIJING, March 30 (Reuters) – PetroChina said on Thursday it will consider taking part in national oil giant Saudi Aramco’s initial public offering based on market conditions, the second Chinese oil major to discuss becoming an investor this week.

“Saudi Aramco has raised this plan to PetroChina,” said president and vice chairman Wang Dongjin on Thursday at a briefing following the announcement of China’s largest oil and gas producer’s 2016 results.

“I think we will make our evaluation and study based on the market situation,” Wang said.

On Monday, Sinopec Corp said Aramco president had visited the firm and both sides would have talks on the IPO, which is expected to be the world’s largest equity sale.

(Reporting by Gabriel Yiu and Raffaele Huang; Writing by Josephine Mason; Editing by Tom Hogue)

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