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Saudi Aramco And BlackRock Are Considering A Deal Worth $10B

According to Reuters, Saudi Aramco is in talks to sell part of its pipeline business for $10 billion. A leading candidate for the deal is BlackRock, but several others have also held discussions with Aramco.

It would be a deal between two giants, as Saudi Aramco is the largest multinational petroleum and natural gas company (by revenue), and BlackRock is the world's biggest asset management firm.

The deal would provide Aramco with a cash infusion which would help it offset the low oil prices stemming from its price war with Russia and the Pandemic.

The format of the deal would be similar to that of ADNOC Oil Pipelines, in which BlackRock along with KKR bought a 40% stake in ADNOC for $4 billion.

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