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Market Chatter: Aramco Considers Selling Assets to Fund Diversification

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Saudi Aramco is seeking to raise funds to support the country's diversification program by selling stakes in some of its assets, including its sulfur business and oil export terminals, Reuters reported Wednesday, citing sources familiar with the matter.

The Project Yellowstone deal pertaining to the company's sulfur storage and export terminals could raise up to $7 billion, while a deal involving its oil export terminals could be valued up to $25 billion, the sources reportedly said.

Aramco's assets being considered for fundraising may generate around $50 billion in funds, according to the report. This also includes a potential $10 billion from the company's real estate portfolio and another $500 million from water infrastructure assets used in crude operations.

Aramco did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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