Gulf states to list oil assets

Al-KHOBAR, Saudi Arabia: Saudi Aramco´s initial public offering (IPO) could encourage other Gulf countries to list their oil assets, a leading regional economist said, but the oil giant must clear uncertainties over taxation, OPEC policy and ownership of crude.

Nasser Saidi, a former economy minister of Lebanon, told Dubai Eye Radio in an interview broadcast on Wednesday that Aramco has to address how the company will separate its assets and liabilities from those of the state.

"Many countries could follow in the region. (The) UAE I think could potentially be attracted to this," Saidi said. "We have long discussed the possibility that well-performing state enterprises could be listed, and potentially this could open the road for that," Saidi, also a former chief economist and head of external relations at the Dubai International Financial Centre, added.