Saudi Aramco (2222.SE) is scouting for other potential deals to offer to investors and unlock capital, Chief Executive Amin Nasser said on Monday after the oil giant in June closed a $12.4 billion deal for its crude pipeline network.
Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetovis scouting for other potential deals to offer to investors and unlock capital, Chief Executive Amin Nasser said on Monday after the oil giant in June closed a $12.4 billion deal for its crude pipeline network.
Aramco had reached out to banks to pitch for an advisory role to help finance the sale of a significant minority stake in its gas pipelines, three sources told Reuters in June. The gas pipeline stake sale will be a "copy paste" of the oil pipeline deal, one of the sources said. Aramco declined comment.
An offtake agreement occurs between a producer and a buyer to purchase or sell portions of the producer's upcoming output.
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