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Saudi Arabia's willingness to delay the initial public offering of state oil company Aramco to 2019 has several motivations, from regulatory risk to competing projects in the government's crowded agenda.Aramco produces almost 10 million barrels of oil a day – just over 10 percent of the world's total supply – from some of the largest, lowest-cost fields in the world.Oil Minister Khalid al-Falih became the first senior official to publicly acknowledge the possibility, describing the deadline for the second half of 2018 as "artificial".Senior officials said privately they remain committed to achieving the crown prince's valuation of at least $2 trillion, however, which is based on Aramco's access to the kingdom's 261 billion barrels of oil reserves.
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