Saudi Aramco is considering the sale of four or five gas-fired power plants as part of a fundraising effort that could generate approximately $4 billion, according to sources cited by Reuters. The move is intended to support the company’s financial commitments, including sustaining dividend payments to the Saudi government amid declining crude oil prices. This asset sale aligns with broader financial strategies, including bond issuances, to back Saudi Arabia’s Vision 2030 development plan. Meanwhile, Saudi renewable energy firm ACWA Power is planning significant expansion in China, aiming to grow its global assets to around $250 billion by 2030, with China expected to contribute between $30 billion and $75 billion to this total.
Aramco may sell up to 5 gas-fired power plants to raise $4B, as it seeks funds to sustain dividends to Saudi Arabia amid lower oil prices. Asset sales and bond issuances are key to supporting Vision 2030. #Aramco #SaudiArabia #Vision2030 #OilMarkets https://t.co/FzeevN0FmY
Saudi #Aramco considers power assets sale to raise billions, sources say
Aramco’s selling power plants to fund Saudi Arabia’s mega-project spree—because even the oil giant can’t cover the tab as crude prices slip and royal ambitions soar. https://t.co/0gpnmf9Etw #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket https://t.co/T4iJz9YpXW