Saudi Aramco to Sell More Assets

Saudi Aramco to Sell More Assets

Saudi Aramco is aiming to sell more of it business assets in order to provide a US dollar liquidity, according to Economic Times.

Saudi Arabia started the stocktaking of its assets in 2020. In April 2021, it raised $12.4 billion through assigning oil pipelines’ leasing rights to a US-led business investor, Business Times reported.

The company als0 plans to continue selling its assets in the upcoming years, Aramco’s senior vice president for corporate development Abdulaziz Al-Gudaimi noted.

Aramco will embark on assets selling “irrespective of any market conditions,” targeting raising “double-digit billions of dollars,” Al -Gudaimi explained.

He added that the company’s strategy meant to create value and create efficiency, it’s not about a specific capital target or financing the dividends of the company.”

Sarah Samir 2953 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password