Apollo Global Management and Global Infrastructure Partners (GIP) are reportedly among companies that have placed a bid for a $10bn stake in Saudi Aramco’s oil pipelines.

Brookfield Asset Management, investment management company BlackRock, China Investment, and Silk Road Fund also made non-binding offers for these assets, Bloomberg reported, citing undisclosed sources.

The report added that pension funds in Abu Dhabi and Saudi Arabia have also separately submitted the initial bids.

Saudi Aramco is considering selling the asset to maintain its $75bn of annual dividend payments, a large part of which goes to the Saudi Government.

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Source: Hydrocarbons Technology News