Analysis: Riding the oil price rebound: Gulf states to accelerate asset sales ...Egypt

DUBAI, Aug 3(Reuters) – Saudi Aramco and other Gulf oil producers are following in the footsteps of Abu Dhabi with plans to raise tens of billions of dollars through sales of stakes in energy assets, capitalizing on a rebound in crude prices to attract foreign investors. The moves, in a region traditionally possessive of its refineries, power plants and pipelines, highlight the pressure on petrostates to raise funds to diversify their sources of revenue and to bolster national finances hit by a recent slump in oil prices and the coronavirus pandemic. After selling a significant minority stake in its oil pipelines to foreign investors for $12.4 billion in June, Saudi Aramco (2222.SE) is weigh

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Last updated : 03 August 2021 clock 02:15 PM

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Analysis: Riding the oil price rebound: Gulf states to accelerate asset sales ...Egypt

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