Saudi Aramco weighs pipeline stake sale

Saudi Aramco weighs pipeline stake sale

Saudi Aramc is weighing the sale of a stake in its pipeline unit to raise money amid a slump in crude prices, according to people familiar with the matter.

Aramco may need to raise cash this year as it confronts a historic rout in oil prices and a burgeoning list of spending obligations, Bloomberg reported.

Aramco could raise more than $10 billion from the sale, the people said, asking not to be identified as the information is private. 

Aramco has already held some preliminary discussions with potential advisers on the deal, but talks are still at an early stage and Aramco may decide against a sale, the people said.

Saudi Aramco declined to comment.

4185 views





Populars