A general view shows the Saudi Aramco oil facility in Dammam city, 450 kms east of the Saudi capital Riyadh, 23 November 2007. AFP PHOTO/Hassan Ammar
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Saudi Arabian Oil Co. confirmed it's considering an initial public offering, which could see the crude producer Leapfrog Apple Inc. as the world's biggest listed company.The company controls about 10 times the oil reserves held by Exxon Mobil Corp. and could be worth more than $2.5 trillion, according to Danilo Onorino, portfolio manager at Dogma Capital SA, a family office in Lugano, Switzerland.An IPO could make Aramco the world's most valuable company, with a capitalization at least double that of Apple's $535 billion, according to Jason Tuvey at research firm Capital Economics.Among listed companies, Russia's OAO Rosneft produces more than 5 million barrels a day while Exxon pumps out about 4 million barrels.
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