Aramco Is Selling Power Plants: Not to Shut Down the Treasury—but to Scavenge for Cash – Never NEOM

Aramco Is Selling Power Plants: Not to Shut Down the Treasury—but to Scavenge for Cash – Never NEOM

Saudi Aramco—the world’s largest oil company and the backbone of the Kingdom’s economy—is preparing to sell up to five gas-powered electricity plants to raise an estimated $4 billion, according to Reuters. This major shift in Aramco’s strategy is not merely a response to fluctuating oil prices. It exposes a deeper liquidity crisis at the heart of the Saudi state and its crown prince’s costly megaprojects. Behind the Numbers: Shrinking Profits an…