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Market Chatter: Saudi Aramco Reportedly Mulls Sale of Sulphur Business Stake

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Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, is reportedly contemplating divesting an equity interest in its Sulphur business under an initiative internally known as Project Yellowstone, Reuters reported Wednesday, citing three people familiar with the matter.

The Saudi state-owned oil giant tapped banks for the proposal and aims to raise up to $7 billion for the deal. It is part of the company's strategy to reduce costs, boost efficiency, and raise funds by selling its infrastructure assets.

Saudi Aramco did not immediately respond to a request for comment from.

(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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