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.

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