Deals
Saudi Aramco to Sell More Assets in Multi-Billion Dollar Push
- Oil firm says it’ll carry out another infrastructure deal soon
- Process continues ‘irrespective of market conditions’: Gudaimi
Photographer: Simon Dawson/Bloomberg
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The world’s largest oil company, Saudi Aramco, is planning to raise tens of billions of dollars by selling more stakes in its businesses.
The Saudi Arabian state-controlled firm created a new team to review its assets last year, soon after the coronavirus pandemic triggered a plunge in energy prices and strained its balance sheet. Aramco raised $12.4 billion by selling leasing rights over oil pipelines to a U.S.-led group of investors in April.