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.”