Saudi Aramco hints at future yuan bonds in potential coup for China

World's largest oil company opens door to shift from dollar as Asia demand grows

20201120N Aramco

Saudi Aramco raised $8 billion on Nov. 17 in its first foreign-currency bond offering since 2019. © Reuters

HIDEMITSU KIBE, Nikkei staff writer

DUBAI -- Saudi Aramco, Saudi Arabia's state-controlled oil company, has raised the possibility of floating yuan-denominated bonds, a move that would mark a significant departure in a traditionally dollar-dominated industry.

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