Saudi Arabia Oil Co., better known as Aramco, has struck a $12.4 billion transaction to sell a minority stake in its oil pipeline operations to a consortium led by U.S.-based EIG Global Energy Partners. 

Aramco Deal

The global investment group agreed to take 49% equity interest in newly created Aramco Oil Pipelines Co. Aramco today operates more than 90 pipelines across the country. The consortium also secured rights to 25 years of tariff payments for oil transported through the system. 

Aramco would hold a 51% majority stake in the pipeline unit, which includes all of the existing and future crude pipelines in the Kingdom; it also transports 100% of the crude produced.

Buying a stake in Aramco is “an extraordinary opportunity” to invest in a “marquee global infrastructure...