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Bond Market News
Aramco Said to Consider Sale of Power Assets to Raise Up to $4bn
July 7, 2025
Saudi Aramco is considering the sale of up to five gas-fired power plants to raise around $4bn as per sources. Sources also said that the Saudi government pushes Aramco to increase profits and dividend payouts to the state. Aramco is the world’s most profitable company and the main source of Saudi state income, which owns 81.5% of the company. However, Aramco signalled slashing its dividend payouts by nearly a third earlier this year as low oil prices hit its income. The company could also divest assets such as housing compounds and pipelines, as per sources. The potential sales news coincides with Saudi Arabia Crown Prince Mohammed bin Salman’s planned massive domestic projects to diversify the economy from oil.
In related news, Blackrock is planning to sell its 49% stake in the leasing rights of Aramco’s natural-gas pipeline network back to Aramco. Blackrock had invested $15.5bn via a self-led consortium to acquire this stake in 2021. Aramco’s buyback would indicate its higher perceived value of the business.
Aramco 3.5% 2029s are trading stable at 96.5, yielding 4.52%.
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