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For I.P.O., Saudi Oil Company May Have to Give Up Some of Its Secrets

HOUSTON — Saudi Arabia has often been a place of mysteries and intrigue, and its promised initial public offering of the kingdom’s crown jewel — the national oil company Saudi Aramco — is only the latest puzzle.

As investment bankers and Saudi officials plan the trading debut, there are more questions than answers: Is the company worth $2 trillion, as the Saudis insist, or a small fraction of that, as argued by bankers and international oil experts? Will members of the royal family

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