Saudi Aramco is seeking a loan worth $7.5 billion for potential investors in its oil pipelines, sources familiar with the matter told Bloomberg.
According to the sources, the Saudi company started discussions with lenders regarding funding terms which would then be given to investors. They added that these negotiations come in parallel with the sale of Aramco’s stake in a pipeline unit at a cost of about $10 billion.
This pipeline line transaction would be the first phase of Aramco’s strategy to raise money by selling leasing rights or stakes in non-core assets. The company refused to comment on such deal.
Aramco is looking for new sources of funding to maintain the annual dividend payments of $75 billion despite lower oil prices.