Negotiations are underway to sell 1% of Saudi oil company Aramco to a foreign company

Plus tôt ce mois-ci, Aramco avait vendu pour 12,4 milliards de dollars une participation minoritaire dans une entreprise de pipelines à la firme américaine EIG Global Energy Partners.

Crown Prince Mohammed bin Salman said in a televised interview on Tuesday that Saudi Arabia was in talks with a foreign company to sell 1% to Saudi oil company Aramco.

“Negotiations are underway to acquire 1% of the capital of Aramco, one of the world’s leading energy companies, which will greatly benefit Aramco’s sales in this country.”MBS Aramco had already sold a portion of its capital in December 2019, and received $ 4.49.4 billion. Earlier this month, Aramco sold a minority stake in a pipeline company to US firm EIG Global Energy Partners for $ 12.4 billion.

Diversification of its economy

These removals illustrate Riyadh’s desire to raise funds to finance its efforts to diversify its economy. Last month, the company announced it would cut profits by 44.4% by 2020, causing serious trouble for its largest partner, the state of Saudi Arabia. Aramco’s debt rose as Saudi Arabia, the world’s largest oil exporter, suffered a drop in barrel prices and a drop in global consumption due to the Kovit-19 epidemic.

READ  Apple CEO Tim Cook calls for a "massive campaign" against fake news

You May Also Like

Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

Leave a Reply

Your email address will not be published. Required fields are marked *