Saudi Aramco may sell shares in refining companies, but would not offer stakes in the crude oil exploration and production operation, Reuters reported, citing unnamed sources familiar with the issue. Some of Aramco’s managers have been told that the company could list shares in “joint downstream subsidiaries” in Saudi Arabia or abroad. Among the options is collecting all subsidies under a holding company which can then be listed, but Aramco’s shares will not be put on sale. Deputy Crown Prince Mohammed bin Salman, King Salman’s son, told The Economist that he expected a decision on Aramco’s privatisation to be made “over the next few months.” (Reuters, Argaam)