Saudi Arabia’s leading petroleum company Aramco is considering a bid for Shell Plc’s assets in Pakistan, which is seen as a positive development.
According to a report, this potential deal could lead to the establishment of Saudi Arabia’s first project in the South Asian country’s energy sector. Saudi Aramco, the world’s largest oil company, is eyeing Shell Pakistan’s assets, particularly Pakistan Stock Exchange-listed Shell Pakistan Ltd, which has a reported market value of $123 million. Is.
Although the purchase price of the potential transaction has not yet been disclosed, sources say the total value of the assets under consideration could be around $200 million.
However, at this stage, it cannot be definitively said that ongoing discussions for investment will result in a binding transaction. The report quoted sources as saying that the talks are in the early stages and a final decision is yet to be made.
A Bloomberg report said that it is also unlikely that other potential buyers could emerge as competition for the assets.
Shell, on the other hand, has refrained from giving details about the potential sale. Any sale would be subject to the target, the ongoing process, and applicable regulatory approvals, a representative was quoted as saying. Shell, however, declined to comment on a specific company.
This development follows an announcement made by Shell Pakistan Limited (SPL) in June this year, where the parent company, Shell Petroleum Company Limited (SPCO), has decided to sell its shareholding in SPL. expressed the intention of