Key facts
- Saudi Aramco is considering selling a stake in its sulfur business, potentially raising up to $7 billion.
- The company is exploring deals for oil export terminals valued at up to $25 billion.
- Aramco's real estate portfolio and water infrastructure assets are also being considered for sale.
- The total value of assets potentially tapped for fundraising could reach around $50 billion.
- These asset sales are intended to fund Saudi Arabia's diversification agenda.
Saudi Aramco is actively pursuing the sale of various assets to raise tens of billions of dollars, a strategy aimed at funding Saudi Arabia's ambitious diversification agenda amid fiscal pressures. The company is considering offloading stakes in its sulphur business, potentially raising up to $7 billion through a process known as Project Yellowstone. Additionally, Aramco is exploring deals for its oil export terminals, which could be worth as much as $25 billion, and its real estate portfolio, including its headquarters campus, valued around $10 billion. Water infrastructure assets, under the codename Project Hydro, are also on the block, with potential proceeds of $500 million. The company is also reportedly working to sell gas-fired power plants worth at least $4 billion. These moves are part of Aramco's broader strategy to tap its vast infrastructure empire for capital, with the total fundraising potential estimated at around $50 billion. Aramco, over 97% owned by the government, is a critical revenue source for the kingdom and is also focused on becoming a major global natural gas player, highlighted by its $100 billion Jafurah mega project. The recent Middle East war has disrupted global supply for sulfur, a vital commodity, increasing its value and making Aramco's sulfur business a hot asset. However, prices are now down again as the United States and Iran sign their preliminary peace deal.