Saudi Aramco is reportedly seeking to extend a $10-billion loan, according to Reuters, which cited unnamed sources familiar with the matter, who confirmed an initial report by a Reuters-related news outlet. Aramco took the loan from a group of banks last year in May to finance its acquisition of Sabic, the Saudi petrochemicals major, which cost the energy company some $69 billion and wrapped up in June 2020. The loan was supposed to be repaid from the proceeds of a bond that Aramco issued later last year. However, the company did not repay the Sabic loan. It raised $8 billion from the bond. It was the second bond Aramco issued in as many years, after placing a $12-billion bond with international buyers in 2019. Saudi Arabia, like its fellow Gulf oil producers, has taken to raising debt to weather the effects of two oil price crises in the past […]