Bloomberg reports Aramco hired Evercore for standalone gas plans

Bloomberg reported that Saudi Aramco has hired Evercore, an investment bank, to advise on separating its gas operations into a standalone division. The change would give gas its own management and financial identity alongside Aramco’s oil-production and downstream businesses, and could eventually allow the company to sell a minority stake in the unit. That would not mean Aramco is putting its core oil business up for sale: the appeal is to create a clearer vehicle for investing in Saudi gas projects and a growing liquefied-natural-gas portfolio while retaining control. The plan remains under consideration, and Aramco has not publicly confirmed the reported mandate or any listing.