Aramco Oil Pipelines attracts EIG-led Consortium

Aramco Oil Pipelines Company attracts $12.4 billion from a consortium led by EIG, which obtains a 49% stake in the company.|Aramco Oil Pipelines Company attracts $12.4 billion from a consortium led by EIG, which obtains a 49% stake in the company.

Share:

Aramco Oil Pipelines Company attracts $12.4 billion from a consortium led by EIG, which obtains a 49% stake in the company.

EIG-led consortium invests in Aramco Oil Pipelines Company

Aramco Oil Pipelines Company is a recently formed entity that has been enjoying remuneration for oil transported through Aramco’s stabilized pipeline network for 25 years.
The company has attracted major investors.
A consortium led by EIG has invested $12.4 billion, taking a 49% stake.
The consortium includes leading investors from China, Korea, Saudi Arabia, the United Arab Emirates and the United States.

“We are honored to be working with this world-class consortium and look forward to a fruitful long-term partnership,” says R. Blair http://energynews.pro/wp-content/uploads/2022/07/RENTEL-POWERPLUG-KLOET-061dd11042019-7.jpeg, CEO of EIG.

A major transaction between two giants

Aramco is Saudi Arabia’s national oil and gas company.
It is the world’s leading oil company in terms of production, accounting for around one in eight barrels of global supply.
For its part, EIG is a leading global investor specializing in the energy sector.
The company had $21.7 billion under management at March 31, 2021.
Aramco and EIG confirm their leading positions in the energy sector with this $12.4 billion deal.
EIG was advised by HSBC Bank plc (financial advisor) and Latham & Watkins (legal advisor).

  • Populaires ​
Prax Group files for insolvency in the UK after losses at Lindsey refinery
Renewable energy: access improving, but financing still insufficient for Africa
The Indonesian-Chinese lithium-ion battery plant will open with 6.9 GWh in 2026
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
Natural hydrogen: France on the verge of redefining its national and European energy strategy
TotalEnergies sells 50% of its renewable assets in Portugal for €178.5mn
TotalEnergies is selling half of a 604 MW Portuguese energy portfolio to the Japanese consortium MM Capital, Daiwa Energy and Mizuho Leasing for €178.5mn, retaining operation and future commercialisation of the assets concerned.
Q ENERGY raises €109 million from BPCE Energeco for renewable projects
Q ENERGY France secures a bank financing of €109 million arranged by BPCE Energeco to build four new energy production facilities, totalling 55 MW of wind and solar capacity by the end of 2024.
Shell forced to amend two annual reports following EY’s compliance breach
Shell announces amendment of two annual reports after notification by Ernst & Young of non-compliance with SEC auditor partner rotation rules; however, financial statements remain unchanged.
Ecopetrol obtains authorization to expand its sustainable bond issuance program
The Financial Superintendency of Colombia approves an amendment to Ecopetrol’s local bonds and commercial paper program, enabling issuance of sustainable, indexed, or in-kind repayable instruments.
ABO Energy sells its Greek subsidiary to HELLENiQ ENERGY Holdings
ABO Energy is selling its subsidiary ABO Energy Hellas and an energy project portfolio of approximately 1.5 gigawatts to HELLENiQ ENERGY Holdings, thus refocusing its strategic resources towards other markets, notably Germany, without major financial impact anticipated for 2025.
Iberdrola increases supplementary dividend by 16.5% to €0.409 per share
Iberdrola announces a supplementary dividend of €0.409 per share for 2024 under the "Iberdrola Retribución Flexible" programme, bringing the total annual remuneration to €0.645 per share, representing a year-on-year increase of 15.6%.
BHP signs with COSCO to charter two ammonia-powered bulk carriers
BHP has signed contracts with COSCO Shipping to charter two ammonia-powered Newcastlemax bulk carriers, primarily for transporting iron ore between Western Australia and Northeast Asia starting from 2028.
CBAK Energy invests $357 million in Malaysia with Anker Innovations
CBAK Energy and Anker Innovations jointly launch a battery cell manufacturing facility in Malaysia, with a commercial potential estimated at $357 million, further strengthening their strategic partnership in the lithium-ion battery sector.
Badenova invests $4.64 billion to transform its energy infrastructure by 2050
German energy group Badenova plans to invest $4.64 billion in its energy networks and capacity by 2050, including $232 million committed from 2025, according to the company's recently published annual financial results.
ORIX sells 17.5% of Greenko for USD 1.28bn and invests in AM Green
ORIX announces the sale of the majority of its stake in Greenko to AM Green Power and commits a new USD 731mn investment in the Luxembourg-based AMG holding, confirming its strategic repositioning in next-generation energy.
Invenergy and Meta expand US portfolio with an additional 791 MW
Invenergy seals four further contracts with Meta to supply nearly eight hundred megawatts of solar and wind power to the group’s data centres, lifting total cooperation between the two companies to one point eight gigawatts.
Pedro Azagra takes helm at Iberdrola, Avangrid renews its leadership team
Pedro Azagra leaves his role as CEO of Avangrid to become CEO of Iberdrola, while Jose Antonio Miranda and Kimberly Harriman succeed him as CEO and Deputy CEO respectively of the American subsidiary.
Ares Management acquires 20% of Plenitude’s capital for 2 billion euros
The US investment fund Ares Management enters Plenitude's capital by acquiring a 20% stake from Eni, valuing the Italian company at 10 billion euros and reinforcing its integrated energy strategy.
Airbus selects ENGIE to decarbonise 22 industrial sites across Europe
ENGIE secures a contract to reduce Airbus' industrial emissions in France, Germany, and Spain, targeting an 85% decrease by 2030 through various local energy infrastructures.
Alain Rhéaume steps down as Chairman of Boralex’s Board of Directors
Alain Rhéaume, Chairman of Boralex’s Board of Directors for eight years, will leave his position by December, following the appointment of his successor by the governance committee of the Canadian energy group.
Statkraft announces $292 million cuts amid European financial pressures
Norwegian group Statkraft plans an annual cost reduction of NOK2.9bn ($292 million) by 2027, citing possible job cuts amid rising financial burdens and volatility in the European energy market.
EDF establishes EDF power solutions to consolidate international low-carbon activities
EDF merges EDF Renouvelables and its International Division into EDF power solutions, led by Béatrice Buffon, to optimise its global 31 GW low-carbon energy portfolio and strengthen its international positioning.
TotalEnergies and Mistral AI Launch AI Laboratory Focused on Industrial Optimization
TotalEnergies announces a strategic partnership with Mistral AI to establish a dedicated innovation laboratory integrating artificial intelligence tools aimed at enhancing industrial efficiency, research, and customer relations.
ETC warns of trade tensions linked to clean energy supply chains
The Energy Transitions Commission warns of economic risks tied to growing protectionism around clean technologies, while calling for global consensus on carbon pricing.
Baker Hughes sells sensor division to Crane for $1.15bn
Baker Hughes has reached an agreement to sell its precision sensor product line to Crane Company for $1.15bn, thereby refocusing its operations on core competencies in industrial and energy technologies.
Baker Hughes

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS