Oil

Report: Saudi Aramco selects advisers for its IPO revival

The Saudi Aramco oil field complex facilities at Shaybah in the Rub' al Khali.
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.

U.S. warns Greek government as Iran tanker sails toward Greece

The Adrian Darya oil tanker, formerly known as Grace 1, off the coast of Gibraltar on Sunday.
The Adrian Darya oil tanker, formerly known as Grace 1, off the coast of Gibraltar on Sunday. Photo: Johnny Bugeja/AFP/Getty Images

A State Department official said Monday the U.S. conveyed its "strong position" to the Greek government and all ports in the Mediterranean about a Greece-bound Iranian supertanker it sought to seize, Reuters reports.

Why it matters: The Adrian Darya 1 tanker has been at the center of a standoff between Iran and the West since it was detained at Gibraltar on suspicion of carrying oil to Syria. The official said the tanker is assisting the Islamic Revolutionary Guard Corp and any efforts to help it may be considered providing material support to the U.S.-designated foreign terrorist organization, which has potential criminal consequences, per Reuters.