Aramco's storage facilities in Ras Tanura

Saudi Aramco asked banks to arrange a loan with a size between $12 -14 billion, which it plans to offer to buyers of its gas pipeline network, sources told Reuters.

 

According to the sources, banks that financed a $12.4 billion acquisition of the company’s oil pipelines earlier this year received a request for proposals from Aramco last week.

 

Potential buyers are expected to submit their bids at the end of October, said the sources.

 

Meanwhile, sources told Reuters previously that the oil giant could raise at least $17 billion from the sale of a significant minority stake in its gas pipelines, according to Argaam's data.

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