The Saudi Aramco oil field complex facilities at Shaybah in the Rub' al Khali. Photo: Reza/Getty Images

Saudi Aramco is selecting advisers to try to move forward on its on-again, off-again, on-again plans for a mammoth IPO, Bloomberg reports.

Why it matters: The listing of a slice of Aramco could be the largest IPO in history, and the proceeds are meant to help fund the kingdom's plans to diversify its crude-dominated economy.

  • Saudi officials have said they're looking to hold the IPO in 2020 or 2021 after shelving what had been plans for an offering in the 2018 timeframe.
  • "Saudi Aramco has picked Lazard Ltd. and Moelis & Co. to advise on the oil giant's second attempt at the world’s largest initial public offering," they report, citing unnamed people with knowledge of the matter.

But, but, but: All kinds of questions remain about the plans first announced in 2016, including the listing venue and Aramco's ability to hit anything close to their hoped-for $2 trillion valuation.

Meanwhile, Reuters has an interesting new piece this morning about how global warming could create hurdles for Saudi Aramco's plan to list 5% of the company, which the kingdom hopes will bring in up to $100 billion.

The big picture: "[S]ome investors and lawyers say the window to execute a sale at a juicy price is shrinking and Aramco will need to explain to prospective shareholders how it plans to profit in a lower-carbon world," they report.

The intrigue: The Saudis argue that their oil is well-positioned even in an increasingly carbon-conscious world because their emissions per extracted barrel are lower than other big producers.

Go deeper: Saudi Arabia touts its crude oil CO2 edge

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Biden clarifies comments on African American and Latino communities

Joe Biden delivering a speech in Delaware in July. Photo: Mark Makela/Getty Images

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What they're saying: "Unlike the African-American community, with notable exceptions, the Latino community is an incredibly diverse community with incredibly different attitudes about different things," Biden remarked in an interview hosted by the National Association of Hispanic Journalists and the National Association for Black Journalists, Politico reports.

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Why it matters: 73-year-old DeWine was set to meet President Trump Thursday on the tarmac at an airport in Cleveland and was tested as part of standard protocol.

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Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 18,996,008 — Total deaths: 712,476— Total recoveries — 11,478,835Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 4,877,115 — Total deaths: 159,990 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: Pelosi rips GOP over stimulus negotiations: "Perhaps you mistook them for somebody who gives a damn" — Ohio Gov. Mike DeWine tests positive.
  4. Public health: Majority of Americans say states reopened too quicklyFauci says task force will examine aerosolized spread Study finds COVID-19 antibodies prevalent in NYC health care workers.
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  6. Sports: Where college football's biggest conferences stand on playing.