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Market Chatter: Saudi Aramco Reportedly Plans New Gas Division, Eyes Potential Minority Listing

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Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, is looking to restructure its business to set up a gas division alongside its upstream and downstream segments, Reuters reported Tuesday, citing two sources familiar with the matter.

The new division is said to give the company a dedicated platform to develop its natural gas resources domestically and expand its liquefied natural gas portfolio internationally.

One of the sources added that the state-owned oil giant is also considering a potential listing of a minority stake in the gas business to raise funds.

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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