Page 15 - MEOG Week 08 2021

MEOG NEWS IN BRIEF MEOG

POLICY and pushed some high-ranking military Silk Road Fund Co. have also made non-
leaders to flee Marib seeking safe binding offers, the people said, asking not to
Intensified airstrikes curb locations in neighbouring southern and be identified as the matter is private. Pension
funds in Abu Dhabi and Saudi Arabia have
eastern provinces,” the tribal source said
Houthis’ progress toward anonymously. separately submitted initial bids, the people
Fighting erupted in earlier Feb. as the
said.
Yemen’s oil-rich Marib Houthis tried to make advances towards deciding which companies will be invited to
Aramco is studying the proposals before
the strategic oil-rich province of Marib.
The Saudi Arabia-led coalition continued Dozens were either killed or injured from make binding offers, the people said. Bidders
Tuesday in launching intensified airstrikes on both warring sides in the non-stop armed may team up later in the process, the people
the Houthi fighters attacking Yemen’s oil-rich confrontations in Marib amid heavy airstrikes said. Some prominent family-owned groups in
province of Marib, a military official told carried out by the Saudi Arabia-led coalition. Saudi Arabia are also considering partnering
Xinhua. Escalation of fighting between the Yemeni with other investors, according to the people.
According to the local official who asked government and the Houthi militia has The world’s largest oil company is mulling
to remain anonymous, a series of sustained displaced nearly 1,500 families from Marib’s asset disposals as a way of maintaining its $75
air raids were carried out by the coalition’s western areas so far. billion of annual dividend payments, almost
warplanes and struck Houthi-held areas in Yemen has been mired in civil war since all of which go to the Saudi government. That
different areas of Marib during the past 24 late 2014 when the Iran-backed Houthi rebels pay-out – the biggest of any listed company in
hours. seized control of several northern provinces the world – became harder to sustain after the
He said that “the intensification of and forced the Saudi-backed government of coronavirus pandemic caused crude prices to
airstrikes largely helped the local anti-Houthi President Abd-Rabbu Mansour Hadi out of plunge last year.
tribal fighters on-ground and encouraged the capital Sanaa. While prices have risen since November,
them to counter the Houthi offensive on their The Saudi-led coalition intervened in the that’s in large part because members of the
province.” Yemeni military conflict in March 2015 to OPEC+ cartel, including Saudi Arabia, have
The Yemeni official confirmed that the support Hadi’s government. restricted production.
surge of the Houthi militias appeared to have XINHUA Dhahran-based Aramco is lining up a loan
been partially halted, as Saudi Arabia and of about $7.5 billion that will be offered to
the United Arab Emirates (UAE) intensified investors in the oil pipelines, people familiar
air campaign helped to curb the rebels’ COMPANIES with the matter said last month. The company
advancement towards Marib. hired New York-based investment bank
A local tribal chief told Xinhua by phone Aramco lands multiple bids Moelis & Co. last year to devise a strategy for
saying that “with the non-stop hovering of selling stakes in some subsidiaries, Bloomberg
fighter jets overhead, the Houthi fighters for $10 billion pipeline stake News reported in December.
were impeded and they are concentrating Representatives for Apollo, Aramco,
on covering themselves and avoiding being Apollo Global Management Inc. and Global BlackRock, Brookfield, CIC and GIP declined
targeted.” Infrastructure Partners are among suitors that to comment. A spokesperson for the Silk
During the past days, the intensity of bid for a roughly $10 billion stake in Saudi Road Fund didn’t immediately respond to
fighting enabled the Houthi rebels to capture Aramco’s oil pipelines, people familiar with requests for comment.
key areas from the pro-government forces the matter said. The sale could be one of the largest
based in Marib. Canada’s Brookfield Asset Management infrastructure deals this year. Flush with
“The Houthi attack has killed a number Inc., BlackRock Inc., sovereign wealth fund record amounts of capital, infrastructure
of pro-government army commanders China Investment Corp. and Beijing-backed funds are seeking to invest in assets with

Week 08 24•February•2021 www. NEWSBASE .com P15