Saudi Aramco will issue bonds in 2Q19, Saudi Arabia’s Energy Minister Khalid al-Falih said on Wednesday. The company has considered issuing bonds to help finance its planned acquisition of a controlling stake in petrochemical maker SABIC. Al-Falih said Aramco will release its financials and reserves when it issues the planned bonds, which will be denominated in USD, but added that the expected bond issuance is not linked to the SABIC acquisition. Al-Falih added that “with or without the SABIC transaction a company the size of Aramco - its capital program and its capital spend is going to be from USD40 to USD50bn a year - it’s very prudent they have access to the capital market.” Falih further stated that the state oil giant will be listed by 2021. The valuation of Aramco would depend on the market but petroleum reserves would be one of the bases for establishing its value, he said.