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Aramco and Evercore explore gas unit
Saudi Aramco is collaborating with Evercore to benefit from the restructuring of its gas division, with the goal of paving the way for a future initial public offering (IPO), valuing the activity at over $100 billion. This move aims to strengthen its natural gas resources and diversify its revenue streams while maintaining operational control and opening up opportunities for external investments. This step is part of Aramco's strategy to increase external financing, improve efficiency, and reduce costs, aligning with Saudi Arabia’s efforts to diversify its economy and diminish dependence on oil.
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