U.S. President Donald Trump has publicly pleaded with Saudi Arabia to sell shares in its national oil company - Aramco - on the New York Stock Exchange (NYSE).
The world's largest oil company will debut its shares on the Saudi domestic market called 'Tadawul' but it is also expected to list on at least one foreign exchange in the second half of 2018.
"Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!" Trump tweeted on Saturday.
Experts have previously said that its equity sale could be the largest in stock market history.
Since early 2016, Saudi leaders are hoping to raise $100 billion by selling just 5 percent of the company in an initial public offering (IPO).
As part of >Saudi's Vision 2030 reform plan, >Crown Prince Mohammed bin Salman is expected to make the final decision as to which foreign stock market - if any - will be able to list shares.
Last month, Saudi Aramco's CEO Amin Nasser told US-based >CNBC that the plan to take a portion of the state-owned oil giant's business public next year remained "on track".
In the same interview, Nasser said that the Saudis "enjoyed" Trump's trip to the kingdom, calling it "a very successful visit that gained a lot of support here in terms of strengthening relations and collaboration between Saudi Arabia and the United States".
Trump, who arrived in Japan on Sunday, said that he spoke with King Salman about listing the national oil company's shares in New York and that "they will consider using U.S. exchanges" according to the New York Times.
StepFeed reached out to Aramco, however, the spokesperson declined to comment.
Tweeps had a lot to say about Trump's latest post...
Some thought it was inappropriate for Trump to communicate with world leaders via Twitter...
"Are you asking Saudi Arabia for money on Twitter"
Others demanded Trump's resignation...
Off topic, but good questions were asked...
Many people believed Trump was trying to distract from the ongoing Mueller investigation
"Would very much appreciate Robert Mueller indicting more people"
"Do you know anything about Saudi Arabia?"
"...exercising your tweeting fingers..."
What about NASDAQ?
Broooooooooo...
Here are 5 things you should know about the world's largest oil company:
1. Aramco holds more oil reserves than the entire North American continent
Saudi Aramco has an estimated 261 billion barrels of oil reserves.
Roughly 20 percent of the entire world's proven oil reserves are in Saudi Arabia. This is more than 10 times the oil reserves of ExxonMobil, the largest listed oil company in the world.
2. Aramco has an enormous workforce
Aramco says it employs around 65,000 workers in a country with a population of 28 million. But the company estimates that it currently creates work, either directly or indirectly, for about 200,000 people.
It's also hoping to grow that figure to about 500,000 jobs over the next decade as it looks to expand into related sectors such as chemicals.
3. Aramco operates the world’s largest oil fields
Aramco operates both the Ghawar and Safaniya oil fields.
The Ghawar oil field is the world’s largest onshore oil field and produces around 5 million barrels a day.
The Safaniya oil field is the world’s largest offshore oil field and produces around 1.2 million barrels a day, enough to meet China’s daily demand alone.
4. Aramco has a market valuation of $2-3 trillion
Crown Prince Mohammed bin Salman confirmed that Aramco is currently valued at upwards of $2 trillion, four times higher than Apple, which is by far the most valued listed company in the world.
If Saudi Arabia sells a 5 percent stake in the Aramco IPO as planned, the offer could potentially fetch $100 billion or more at the company’s current valuation.
This would make it the largest IPO in the world, 4 times larger than the Alibaba IPO that hit the markets in 2014.
5. Aramco says it produces 1 out of every 8 barrels of oil in the world
That's about 12% of global production, more than any other single producer.
It pumps about 10.3 million barrels per day. That is more than twice its closest competitor Rosneft, Russia's state-owned producer.