Popular oil firm Saudi Aramco is working on raising billions of dollars by selling a range of assets. Insiders have revealed that the decision could rank as the company’s most significant disposals ever.
According to sources who prefer to remain anonymous, Saudi Aramco is currently weighing the sale of a stake in its oil export and storage terminals.
As of today, banks have been asked to pitch for roles on feasibility studies for the disposals, which could fetch more than $10 billion.
Revealing that Aramco is targeting different options, including raising fresh equity from the deal, insiders stated that the firm could seal a deal that is similar to the recent $11 billion lease transaction with a group led by BlackRock Inc.’s Global Infrastructure Partners for assets linked to the Jafurah gas project.
That transaction attracted interest from heavyweight companies across the globe, and bankers have since pitched various asset disposal plans amid high demand from investors.
The source insisted that Aramco’s terminals business is viewed as a costly asset, and the company could start a formal sales process as early as 2026.
The oil giant is also considering selling part of its real estate portfolio, with several assets likely to be worth billions of dollars, just as the Saudi kingdom is stepping up plans to allow foreign ownership.
Conversations are still at an early stage, and no final decisions have been made as of the time of this report.
Saudi Aramco reps are yet to respond to a request for comment.
