Saudi Aramco, the world’s largest oil producer, is weighing the sale of a stake in its pipeline unit to raise money amid a slump in crude prices, according to people familiar with the matter.
Aramco may need to raise cash this year as it confronts a historic rout in oil prices and a burgeoning list of spending obligations.
The company has reaffirmed its commitment to pay out $75 billion in dividends this year and also needs to make the first installment for its $70 billion acquisition of a stake in chemicals producer Saudi Basic Industries Corp.
Aramco, the world’s most valuable publicly traded company after selling shares on the Riyadh exchange last year, could raise more than $10 billion from the sale, the people said, asking not to be identified as the information is private.
