Saudi Arabia's predominantly public-owned Aramco is set to take in billions through offloading shares it owns. The oil titan began looking at its portfolio in 2020, establishing a group to do so not long following the sink in the oil market caused by Covid-19, Bloomberg reported on Wednesday. This April, Saudi Aramco brought in $12.4 billion by offloading "leasing rights" relating to oil pipelines. Aramco senior VP for corporate development Abdulaziz Al Gudaimi laid out the rationale for moving ahead with offloading other interests over the coming years. He related that Aramco is shortly to start arranging another new agreement, though no further details were given.
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