Saudi state oil giant Aramco is exploring potential asset sales to free up funds, two people with knowledge of the matter told Reuters news agency, as it pursues an international expansion and weathers lower crude prices.
Aramco is the world’s largest oil-producing company and the main source of Saudi state revenue. The firm will slash dividend payouts by nearly a third this year as lower oil prices hit its income.
The company has asked investment bankers to pitch ideas for how to raise funds from its assets, the people said.
They declined to say which assets could be sold or name the banks involved.
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