Saudi Aramco may sell assets in Poland — RMF24

Saudi Aramco is considering reducing its presence in Poland and selling some of its assets, including a stake in the Gdańsk refinery. RMF24 reports, citing the newspaper Rzeczpospolita.

Possible sale of Aramco Fuels Poland

According to the publication, no final decisions have yet been made, but information about a possible reduction in the Saudi group's operations in Poland was reportedly confirmed by several independent industry sources.

Saudi Aramco has reportedly tasked investment bank JPMorgan Chase with assessing the market for a potential sale of assets. A shortlist of three companies interested in acquiring the Saudi group's Polish assets has also already been drawn up.

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Two scenarios are being considered: Saudi Aramco's complete exit from the Polish market or the sale of Aramco Fuels Poland. The second option is considered more likely, according to Rzeczpospolita. Last year, Aramco Fuels Poland generated revenue of 18.2 billion zlotys.

ESG regulations

The newspaper's sources link the possible asset review to new European Union rules in the area of ESG — environmental and social standards and corporate governance. Tighter requirements in this area could prompt the group to sell part of its assets.

A potential deal in Poland would also be in line with Saudi Aramco's global portfolio review. Reuters estimated the value of assets the company is analyzing for possible decisions at $50 billion. These include not only fuel businesses, but also stakes in sulfur companies, export terminals, energy and water infrastructure, as well as real estate.