Saudi Aramco is reportedly exploring the sale of some assets to raise cash for expanding its international operations and improving existing projects, sources told Reuters.
According to unnamed insiders, Aramco has asked investment banks for ideas on how to generate cash from its assets. Two sources added that these sales could help the company boost operational efficiency and cut costs.
Aramco recently reported a decline in its 2024 profits and announced plans to reduce its total dividend by 30% this year, putting further pressure on Saudi Arabia’s finances.
In March, the world’s largest crude oil producer and exporter posted a net profit of $106.2 billion for 2024, down from $121.3 billion in 2023. The drop was due to lower average oil prices last year and Saudi Arabia’s continued production cuts under the OPEC+ agreement.
For the fourth quarter, Aramco’s board approved a base dividend of $21.1 billion, a 4.2% increase from the previous year. However, the performance-linked dividend was cut sharply to $200 million, signaling the impact of lower oil prices.
Aramco is a key source of revenue for Saudi Arabia’s government and funds many national projects. But rising ambitions have pushed the country’s oil price breakeven point above $90 per barrel, despite Aramco’s low production costs.
As a result, Saudi Arabia ran a budget deficit of $15.6 billion in the first quarter of 2025, already more than half of the finance ministry’s full-year forecast.
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