Thursday 4 January 2018

Saudi Aramco Seeking Adviser for Global Gas Acquisitions - Bloomberg

Saudi Aramco Seeking Adviser for Global Gas Acquisitions - Bloomberg:

"Saudi Arabian Oil Co. is seeking to hire a bank to advise on plans to buy natural gas assets, according to people familiar with the matter, ahead of what could be the world’s biggest share sale.

Aramco, as the company is known, in late 2017 invited international banks to pitch for the advisory role to help identify acquisition targets, said the people, asking not to be identified as the information is private. Aramco declined to comment.

Khalid Al-Falih, who is both Aramco chairman and the kingdom’s energy minister, said last month the company is looking for natural gas assets anywhere from the U.S. to East Africa and Russia as the kingdom’s state-owned energy giant hunts for ways to meet soaring domestic demand.

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