Saudi oil: Aramco looking for new offers to offer investors

“We’re looking at the potential of other deals we’re currently negotiating (about),” Nasser said on a call with analysts.

Aramco had contacted the banks to seek an advisory role to help finance the sale of a significant minority stake in its pipelines, three sources told Reuters in June. The sale of the pipeline shares will be a “cut and paste” of the pipeline deal, one of the sources said. Aramco declined to comment.

Aramco and other Gulf oil producers follow suit in Abu Dhabi with plans to raise tens of billions of dollars through the sale of stakes in energy assets, capitalizing on a rebound in crude prices to attract investors foreigners.

Nasser also said during the briefing that there are opportunities for the company in the hydrogen market. He said Aramco was seeking off-take deals with potential buyers before it could increase its hydrogen production, but added that he saw strong potential for growth and export.

“We are looking to capture a large percentage of this market, we have an advantage,” Nasser said during the analyst briefing.

A levy agreement is made between a producer and a buyer to buy or sell portions of the producer’s future production.

Countries in Europe and North America are looking for ways to produce emission-free hydrogen to help reduce carbon emissions and prevent global warming.

Abu Dhabi National Oil Co (ADNOC) in partnership with Fertiglobe this month sold its first shipment of blue ammonia to Itochu Corp in Japan, for use in the production of fertilizers, it announced on August 3. .

(Reporting by Hadeel Al Sayegh and Saeed Azhar; Editing by Susan Fenton and David Holmes)

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