Aramco considers power assets sale: Report

Saudi Arabian Oil Co. (Saudi Aramco) is reportedly considering selling up to five gas-fired power plants as part of a broader effort to raise funds, Reuters reported, citing informed sources.

The potential sale of four or five gas-fired plants that power refineries could alone raise around $4 billion.

The oil giant could divest assets such as housing compounds and pipelines, while port infrastructure assets could be up for sale too.

Port infrastructure assets might also be put up for sale, the sources said, noting that local companies—such as utility providers—could be interested buyers.

In May, Aramco was studying the possibility of asset sales to boost liquidity as it pursues international expansion, according to Argaam data.