• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 5 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 4 hours What-If - Russia decided to take out the Saudi and Kuwait oilfields
  • 7 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 2 days "As the Earth Cools, the Climate Change Hoax Heats Up" by Michelle Edwards
  • 5 hours PROFOUND ! "Russian Ruble relaunched linked to Gold and Commodities" by the famous Ronan Manly -- (NOTE the censorship by the MultiPolar New World Order of The Great Reset))
  • 1 day 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 1 day The United Nations' AGENDA 2030 - The vision for One World Governance ...an article by the famous Dr Robert Malone
  • 4 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"

Saudi Sovereign Wealth Fund Considers Sale Of $90 Billion Aramco Stake

Saudi Arabia’s sovereign wealth fund is reportedly looking into ways to monetise its around $90 billion (£66.7 billion) stake in Aramco, the world’s largest oil company.

The Public Investment Fund is weighing its options, Bloomberg first reported, as Saudi Aramco seeks funds to pursue its ambitious investment plans.

The Fund, which currently owns around a four percent stake in Aramco, has been inviting advisers to pitch options.

Avenues currently on the table include a full or partial sale of the holding or raising capital by pledging the stock against loans or convertible debt instruments, according to people familiar with the matter.

It comes as Aramco’s shares surged 4.2 percent to a record high of $11.26 (£8.41) per share today, as oil prices breached the $100 a barrel mark after Russia officially invaded Ukraine.

The talks are still in their early stages, the people added.

Though discussions arrive just weeks after the Saudi government, which owns 94 percent of Aramco, transferred the stake over to the Fund and come amid reports that officials are mulling a new stock offering, after the oil giant’s successful market debut in 2019.

Aramco, reported to be worth an eye-watering $1.9 trillion (£1.4 trillion), raised nearly $30 billion (£22.2 billion) via the float.

By City AM

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News