Mubadala is part of a consortium to acquire a 49% stake in Aramco Crude Oil Supply


Mubadala Investment Company has joined a consortium led by the American company EIG Global Energy Partners, which entered into a deal with Saudi Aramco to acquire a 49% stake in the newly established company under the name Aramco Crude Oil Supply Company. ».
Mubadala said in a statement that Saudi Aramco will retain the remaining 51% stake in the new entity, which has the right to use Saudi Aramco’s concentrated crude oil pipeline network for a period of 25 years, at a tariff paid by Saudi Aramco for the quantities of concentrated crude oil that flow. Through the network, this tariff is linked to a minimum size of these quantities.
The statement clarified that Saudi Aramco will retain full ownership of the pipeline network and will continue to have full operational control over it and full rights to benefit from it and continue its responsibilities for operation and maintenance work. Also, this transaction will not impose any restrictions on the amount of actual production of crude oil subject to actual production decisions that it takes. The Kingdom of Saudi Arabia, nor its current operational capabilities or future expansions.


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