London South East | The UK's favourite investor portal.

Previously it was discussed on the 7th April 2021. EIG Global Partners are now part of the consortium
Apollo said to lead group for $10bn Aramco deal Saudi Arabian energy giant’s deal transferring minority share to group including US, Chinese investors could be announced as soon as this week Saudi Arabia's energy giant is in advanced talks to sell up to a 49% stake in its oil pipelines to a consortium of US, Chinese and local investors for between $10bn and $15bn, according to people familiar with the matter.

Saudi Arabian Oil, known as Aramco, is in talks to sell the minority stake to a group of investors that could include US buyout giant Apollo Global Management, energy investment firm EIG Global Energy Partners, Chinese infrastructure fund Silk Road Fund, and China Reform Fund Management, a Chinese private equity fund, along with Saudi pension funds, the people said.

The talks represent another far-reaching attempt to monetise Saudi Arabia's prodigious oil assets -- once considered so strategic that even a minority stake sale seemed far-fetched. With the ascension of Crown Prince Mohammed bin Salman, however, the kingdom has been more willing to lure foreign investors and cede some control over its oil industry in exchange for cash. Over several years, Prince Mohammed promoted an international listing of Aramco shares, before ultimately deciding on a local listing of a very small slice of the company.

By holding on to a majority stake in the pipeline business, Saudi Arabia assures it remains in operational control of the assets. A deal would set up a joint venture between Aramco and any winning bidder, according to people familiar with the matter. That joint venture would receive proceeds from Aramco for transporting oil along the pipelines. Details of the revenue-sharing agreement under any deal couldn't be learned.
In some regard, the talks mark another step in a partial reversal of Saudi Arabia's nationalisation of its oil fields and infrastructure during the 1970s and 1980s. The inclusion of Chinese investors in the group negotiating for the stake could also add an element of geopolitical tensions to any deal.

A Chinese investor is important for Saudi Arabia since the country accounts for a large proportion of expected global oil demand growth. But it would also provide an opportunity for Beijing to increase its presence in a region long beholden to US military power projection. The Biden administration is currently recalibrating its relationship with Saudi Arabia, including trimming the U.S. military presence in the Mideast.
The final structure of any winning group is still in flux, these people said, and talks could still collapse. One possibility is that either Apollo or EIG drop out of the consortium, according to people familiar with the matter. That would help ensure all players in the group have enough equity in the deal to make it worth their while.
https://www.penews.com/articles/apollo-said-to-lead-group-for-10bn

Previously it was discussed on the 7th April 2021. EIG Global Partners are now part of the consortium
Apollo said to lead group for $10bn Aramco deal Saudi Arabian energy giant’s deal transferring minority share to group including US, Chinese investors could be announced as soon as this week Saudi Arabia's energy giant is in advanced talks to sell up to a 49% stake in its oil pipelines to a consortium of US, Chinese and local investors for between $10bn and $15bn, according to people familiar with the matter.

Saudi Arabian Oil, known as Aramco, is in talks to sell the minority stake to a group of investors that could include US buyout giant Apollo Global Management, energy investment firm EIG Global Energy Partners, Chinese infrastructure fund Silk Road Fund, and China Reform Fund Management, a Chinese private equity fund, along with Saudi pension funds, the people said.

The talks represent another far-reaching attempt to monetise Saudi Arabia's prodigious oil assets -- once considered so strategic that even a minority stake sale seemed far-fetched. With the ascension of Crown Prince Mohammed bin Salman, however, the kingdom has been more willing to lure foreign investors and cede some control over its oil industry in exchange for cash. Over several years, Prince Mohammed promoted an international listing of Aramco shares, before ultimately deciding on a local listing of a very small slice of the company.

By holding on to a majority stake in the pipeline business, Saudi Arabia assures it remains in operational control of the assets. A deal would set up a joint venture between Aramco and any winning bidder, according to people familiar with the matter. That joint venture would receive proceeds from Aramco for transporting oil along the pipelines. Details of the revenue-sharing agreement under any deal couldn't be learned.

In some regard, the talks mark another step in a partial reversal of Saudi Arabia's nationalisation of its oil fields and infrastructure during the 1970s and 1980s. The inclusion of Chinese investors in the group negotiating for the stake could also add an element of geopolitical tensions to any deal.

A Chinese investor is important for Saudi Arabia since the country accounts for a large proportion of expected global oil demand growth. But it would also provide an opportunity for Beijing to increase its presence in a region long beholden to US military power projection. The Biden administration is currently recalibrating its relationship with Saudi Arabia, including trimming the U.S. military presence in the Mideast.

The final structure of any winning group is still in flux, these people said, and talks could still collapse. One possibility is that either Apollo or EIG drop out of the consortium, according to people familiar with the matter. That would help ensure all players in the group have enough equity in the deal to make it worth their while.
https://www.penews.com/articles/apollo-said-to-lead-group-for-

21st April 2021 - Cáceres, Western Spain.
The Harbor Energy company will invest about
850 million euros in a renewable generation project in the north of the province of Cáceres, which will create more than 500 jobs.

Specifically, this "pioneer" project combines wind energy, photovoltaics, batteries and green hydrogen and seeks to promote the economic and social development of the area.

Thus, this initiative aims to help prevent the depopulation of emptied Spain and will have an impact in about 15 municipalities, generating more than 500 jobs, not only through its installation, but also through the implementation of projects. specific to agriculture and livestock, as a response to mitigate the effects of depopulation.

"Faced with depopulation, renewable generation is an essential element for territorial development, that is why the objective of Harbor Energy is that the economic benefits generated by the project return to the local communities and remain in the territory," he said. the company asserted in a press release.

In this sense, the executive president of Harbor Energy, Antoni Llorens, has ensured that priority is given to hiring the land on which the projects are developed with local administrations, or if they are private owners of the land, trying to make them small plots.
A "PIONEERING" RENEWABLE PROJECT
The project, which is expected to install 1.2GW (gigawatts), contemplates the production of green hydrogen, with a part of the renewable electricity produced; accumulation by batteries; and the hybridization of technologies through the installation of 12 small wind farms and a photovoltaic plant, which will extend through the regions of Sierra de Gata, Hurdes, Trasierra and Valle del Alagón.
Likewise, it will have its connection to the Electric Power Transmission Network at the new Pinofranqueado node, on the 400kV Arañuelo-Aldeadavila Line. This node has been integrated into the Planning Proposal for the Electric Power Transmission Network for the period 2021-2026, a proposal made by Harbor Energy.

Website article translated using Google translate from Spanish to English. Read the full article here:

https://twvixrlztoxml6jfnvdya2mo6q-ac5fdsxevxq4s5y-regiondigital-com.translate.goog/noticias-amp/caceres-y-provincia/343467-harbour-energy-invertira-850-millones-en-proyecto-generacion-renovable-en-norte-de-caceres.html

Latest Share Chat

Member Info for NOFEAR

Followers

Following

Posts (Last 30 Days)

Posts (All Time)

Last Post

Member Since

Share Chat Post Distribution (Last 30 Days)

Activity Log (Last 30 Days)