A handout picture provided by the Saudi Royal Palace on March 22, 2018 shows Saudi Crown Prince Mohammed bin Salman giving a speech during the Saudi-US Partnership Gala event in Washington, DC. "AFP PHOTO / SAUDI ROYAL PALACE / BANDAR AL-JALOUD"
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The head of Saudi oil giant Aramco has said a much-anticipated IPO is on track for 2018, but declined to give a fixed date -- or venue.Saudi authorities plan to list five percent of Aramco on an as-yet unspecified stock market, but the company has struggled to arrive at a $2 trillion valuation sought by Saudi Crown Prince Mohammad bin Salman.Saudi Arabia, which counted on crude for more than 90 percent of its public revenues, has struggled to bounce back from a 2014 global oil market crash triggered by an output surplus.
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