Aramco Prepares to Establish Independent Gas Unit
Qiyas summary
Saudi Aramco hires consulting firms to establish an independent gas unit as part of Project Gamma.
Translated by Qiyas from النهار — Original source
Bloomberg News reported, citing informed sources, that Saudi oil giant Aramco enlisted Evercore Inc. to advise on a restructuring to create an independent gas unit and pave the way for a potential future public offering. The agency also reported, citing Reuters, that the Boston Consulting Group provided Aramco with advice on spinning off its gas activities under a project named “Project Gamma,” a move aimed at maximizing value.
