The possible divestment of four or five gas-powered plants supplying energy to refineries might generate around $4 billion as the Saudi government urges Aramco to enhance profits and contribute to the state, according to two sources.
They mentioned that the company could also sell housing projects and pipelines. Port infrastructure assets may also be available for purchase.
Aramco will reduce its dividend distribution by almost one-third this year due to decreased earnings from low oil prices.
According to its 2024 financial report, the company owned fully or partially 18 power plants and associated infrastructure that provide energy to its gas and oil refineries.
source: reuters.com
They mentioned that the company could also sell housing projects and pipelines. Port infrastructure assets may also be available for purchase.
Aramco will reduce its dividend distribution by almost one-third this year due to decreased earnings from low oil prices.
According to its 2024 financial report, the company owned fully or partially 18 power plants and associated infrastructure that provide energy to its gas and oil refineries.
source: reuters.com
