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Liam Denning

Saudi Aramco’s Strange Chemical Attraction

Buying a Sabic stake would make an IPO an even more distant prospect.

So much for that IPO.

So much for that IPO.

Photographer: Fayez Nureldine/AFP/Getty Images

Saudi Aramco’s IPO may be on hold, but that doesn’t mean its bankers are idle.

It emerged on Thursday that the state-owned oil champion — full name: Saudi Arabian Oil Co. — is considering buying a stake in Saudi Basic Industries Corp., or Sabic, a giant chemicals firm.