Saudi Aramco Looks To Lure Buyers To Pipeline Unit With $10B Loan

Saudi Aramco, the world’s biggest oil company, is discussing with banks the idea to offer the potential buyers of its pipeline business a staple financing package of up to US$10 billion, Reuters reported on Wednesday, citing three sources. Saudi state-controlled giant Aramco is looking to monetize assets as its oil revenues and profits—and as an extension, Saudi Arabia’s income from oil—have drastically fallen over the past year, due to the crash in global oil demand and prices, and the OPEC+ production cut pact aimed at…