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Johann Wilfred
Asset management company BlackRock is supposedly considering a sale of its stake in Saudi Aramco, specifically its leasing rights in the oil conglomerate, as per a Bloomberg report.
While both companies have not confirmed the exact amount to be sold, it is estimated to be in billions of dollars.
BlackRock owns 49% of Saudi Aramco’s natural gas pipelines, a stake it acquired in 2021 for $15.5 billion with a consortium of investors led by the investment firm, with Saudi Aramco holding the remaining 51%.
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