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Saudi Aramco Signs $11bn Jafurah Deal with BlackRock-Led Consortium
- A BlackRock-led group signed an $11 billion lease deal with Saudi Aramco for natural gas facilities as Aramco aims to raise cash from infrastructure assets.
- The lease involves infrastructure serving the Jafurah gas project and will last for 20 years.
- Aramco has been seeking international capital by selling stakes in some assets to support the Saudi government's economic transformation plan.
- Aramco's Chief Financial Officer Ziad Al-Murshed mentioned that the company is reviewing its portfolio to unlock capital for investment in core activities.
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BlackRock backs $11B Saudi Aramco gas deal
BlackRock is leading a $11 billion deal to lease and rent back natural gas processing facilities from Saudi Aramco, in a boon to Riyadh’s ambitions to attract more foreign investment. Global Infrastructure Partners, the private investor BlackRock acquired last year, signed the 20-year deal with Aramco on Thursday.Set to begin production by year-end, the development comes as the kingdom looks to ramp up gas production for domestic use in order to…
·New York, United States
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PR Newswire+4 Reposted by 4 other sources
Aramco signs $11 billion Jafurah midstream deal with international consortium led by Global Infrastructure Partners
/PRNewswire/ -- Aramco, one of the world's leading integrated energy and chemicals companies, has signed an $11 billion lease and leaseback deal involving its...
·United States
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Coverage Details
Total News Sources18
Leaning Left3Leaning Right2Center3Last UpdatedBias Distribution38% Left, 38% Center
Bias Distribution
- 38% of the sources lean Left, 38% of the sources are Center
38% Center
L 38%
C 38%
R 25%
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