Informed Sources: Saudi Aramco on the Verge of Striking a Deal to Raise $10 Billion from a Group Led by BlackRock
July 17, 202537 ViewsRead Time: 1 minutes
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Reuters quoted informed sources as saying that Saudi Aramco is on the verge of striking a deal to raise around $10 billion from a group led by BlackRock established to invest in the infrastructure of Aramco's Jafurah gas project.
This would be the latest agreement in a series of financial arrangements, resembling borrowing, allowing the Kingdom to raise funds to diversify its economies while ensuring stable revenue flows for investors.
The sources expect this deal to be similar to Aramco's infrastructure deals in 2021, where BlackRock invested in one of them in Aramco's gas pipelines, enabling the Saudi company to generate funds.
Aramco retained control of the core infrastructure while investors received fees from the oil company for using the pipelines.
The sources did not disclose their identities as the discussions are confidential. They did not specify a completion date for the deal.
This would be the latest agreement in a series of financial arrangements, resembling borrowing, allowing the Kingdom to raise funds to diversify its economies while ensuring stable revenue flows for investors.
The sources expect this deal to be similar to Aramco's infrastructure deals in 2021, where BlackRock invested in one of them in Aramco's gas pipelines, enabling the Saudi company to generate funds.
Aramco retained control of the core infrastructure while investors received fees from the oil company for using the pipelines.
The sources did not disclose their identities as the discussions are confidential. They did not specify a completion date for the deal.
