Energy Saudi Aramco’s mega IPO: Why analysts remain cautious about it Updated : November 05, 2019 01:57 PM IST Valuations have been the main reason for the delay in the IPO. Aramco is the world’s largest oil producer, contributing 10 percent of global supply. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.