The external audit of the oil reserves of Saudi Aramco ahead of its planned IPO has confirmed that Saudi Arabia’s oil giant has more than 261 billion barrels of reserves, Reuters reported on Friday, citing sources in the know. On Thursday, news broke that Saudi Aramco had hired two U.S. firms – a unit of Baker Hughes and a Dallas-based reserves auditing firm to look into how much oil reserves it really has. Saudi Aramco had tasked Baker Hughes’ energy consulting services unit Gaffney, Cline & Associates, as well as Dallas-based DeGolyer and MacNaughton, to perform the reserves auditing, various sources have told Reuters . According to The Wall Street Journal, which first broke the news of Aramco hiring Gaffney, Cline & Associates, Saudi Aramco had hired Gaffney, Cline & Associates late last year and its audit is now complete. Today, sources told Reuters that the independent audit of […]