Aramco is reportedly considering selling a range of assets — including a stake in its oil export and storage terminals — in a move that could raise more than USD 10 bn, Bloomberg reports, citing people it says are familiar with the matter. The terminals business, viewed as a lucrative asset, could see a formal sales process as early as next year.

Ras Tanura hub is in the cards: Aramco’s key export and storage infrastructure includes its main hub at Ras Tanura on the Persian Gulf, with additional terminals on the Red Sea. Internationally, the company owns stakes in product terminals in the Netherlands and leases crude and product storage capacity in Egypt and Okinawa, Japan.

The company has already asked banks to pitch for feasibility-study roles, though discussions remain preliminary and no final decisions have been made, the sources said. Bankers have since pitched Aramco multiple disposal scenarios. The sales could be structured either as direct equity sales or through a lease-style arrangement similar to the USD 11 bn Jafurah gas infrastructure play it struck with a BlackRock-led consortium in August.

The potential sell-down would mark a shift from Aramco’s earlier pipeline-focused sales. With oil prices down roughly 20% this year, the company has delayed some projects and is looking to sell assets to freeup banknotes for ongoing investments. The move comes as global investor appetite for Aramco’s infrastructure has been building. S&P’s latest outlook highlights that Aramco’s capex load is among the highest in the Kingdom and is increasingly outpacing internal liquidity.

ALSO- Aramco is said to be weighing the sale of some of its real estate holdings, which could fetch several bn USD on their own and may draw strong interest as the Kingdom moves ahead with plans to open up the sector to more foreign ownership.

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