Aramco advances plan to lease out pipelines

The cash-strapped Saudi NOC is looking to replicate the recent divestment success of its Emirati counterpart Adnoc

While Aramco has paused talks on several large commercial transactions, it is proceeding with plans to cash in on its pipeline business. Several high-profile projects were put on hold or cancelled altogether during the first half of the year as the company sought to maintain operations while safeguarding its highly publicised dividend. Reports first emerged in March that the Dhahran-based company would look to offload a stake in the infrastructure in a deal worth around $10bn. However, the proposed agreement will not be a sale as was widely reported at the time. Instead, Petroleum Economist understands Aramco will lease, for a period of up to 25 years, a stake in the pipelines to a group of