Saudi Aramco, the world’s biggest oil company, is discussing with banks the idea to offer the potential buyers of its pipeline business a staple financing package of up to US$10 billion, Reuters reported on Wednesday, citing three sources. Saudi state-controlled giant Aramco is looking to monetize assets as its oil revenues and profits—and as an extension, Saudi Arabia’s income from oil—have drastically fallen over the past year, due to the crash in global oil demand and prices, and the OPEC+ production cut pact aimed at propping up oil prices. Reports emerged as early as in October that Aramco was in early talks to potentially structure a deal worth more than US$10 billion to sell a part of its pipeline business to asset managers, including the world’s biggest, BlackRock. According to Reuters sources, now Aramco’s potential investors in the pipeline unit, including BlackRock, are also discussing with banks the possible […]