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The Saudi government holds a 90% stake in Aramco. Credit: chrisdorney/Shutterstock

Saudi Arabia is preparing for a multi-billion-dollar share sale for its oil and gas company Aramco, potentially as early as June, reported Reuters, citing sources. The divesture could fetch $10bn for the Saudi government, which holds a 90% stake in Aramco. Specifics of the sale are still being worked out. This move is part of Saudi Arabia’s broader Vision 2030 economic strategy, which aims to diversify the kingdom’s economy and reduce its dependency on oil revenues.

Multiple global energy companies, including Abu Dhabi National Oil Company (ADNOC) and Saudi Aramco, are reportedly evaluating bids for Shell‘s downstream assets in South Africa, reported Bloomberg. The potential sale, which sources suggest could exceed $800m, has also piqued the interest of South Africa’s Sasol, commodity trader Trafigura Group’s Puma Energy, and Glencore. Talks are at an early stage.

Trinidad and Tobago has received bids from energy majors BP, Shell, and EOG Resources on four blocks for oil and gas exploration as part of 2023 shallow water auction, reported Reuters. Trinidad and Tobago Energy Minister Stuart Young said the government plans to announce the winners in four months’ time. All three companies submitted bids for the Modified UC block, which is located close to the Teak, Sammaan and Poui producing fields.

British energy infrastructure operator National Grid is planning to divest the Grain LNG terminal in the UK. The move forms part of the company’s strategy to streamline its operations. Said to be the largest facility of its kind in Europe, the Grain LNG terminal is situated on the Isle of Grain in Kent. The import terminal is undergoing expansion to enhance its storage and delivery capabilities.