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Aramco to Sell More Assets in $Multibillion Push
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They will happen “irrespective of any market conditions” and Aramco aims to generate “double-digit billions of dollars,” Al Gudaimi said in an interview. “It’s a strategy meant to create value and create efficiency, it’s not about a specific capital target or financing the dividends of the company.”
Second DealThe comments are the first from Gudaimi since he was appointed last August to lead a new team that focuses on “portfolio optimization” and reports to Chief Executive Officer Amin Nasser. The company is reviewing what other infrastructure can be monetized and will start seeking investors for a second deal soon, Al Gudaimi said, without commenting further.
Saudi Aramco to sell more assets in multi-billion dollar push
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Saudi Aramco to sell more assets in multi-billion dollar push
Aramco raised $12.4bn by selling leasing rights over oil pipelines to a US-led group of investors in April
July 8, 2021
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.
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