Moelis Gets Mandate with Saudi Aramco on Selling Stakes in Units Posted on 12/10/2020 Saudi Aramco (Saudi Arabian Oil Company) is the world’s biggest oil company and has been negatively hurt by a long-term slump in oil prices exacerbated by the COVID-19 lockdowns (kills global oil demand). Saudi Aramco hired Moelis & Co. to formulate a strategy for selling stakes in some subsidiaries. The plan includes raising around US$ 10 billion from a stake sale in Aramco’s pipelines. Ken Moelis has a nickname in the Arab region as “Ken of Arabia”. Despite massive recent drops in profits, Saudi Aramco remains the crown jewel for the country as the oil giant is keen on paying its massive “guaranteed” dividend payments.