Reported 1 day ago
A consortium led by BlackRock's Global Infrastructure Partners is negotiating with lenders to secure approximately $10.3 billion in financing for Saudi Aramco's Jafurah gas project. The funding aims to facilitate the lease of gas processing facilities for 20 years, allowing Aramco to retain a majority stake while providing the consortium with a profitable return. The deal signifies Saudi Arabia's strategic shift from crude oil to gas, enhancing its energy output by 60% by 2030.
Source: YAHOO