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Saudi Aramco plans to sell pipeline stake amid a slump in crude prices

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

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Aramco, the world’s most valuable publicly traded company after selling shares on the Riyadh exchange last year, could raise more than $10 billion from the sale

Bloomberg

2 min read Last Updated : Mar 31 2020 | 12:40 AM IST

Saudi Aramco, the world’s largest oil producer, 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.

The company has reaffirmed its commitment to pay out $75 billion in dividends this year and also needs to make the first installment for its $70 billion acquisition of a stake in chemicals producer Saudi Basic Industries Corp.

Aramco, the world’s

Topics : Saudi Aramco Saudi Arabia Stake sale Oil prices sink Crude Oil Prices

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