Saudi Aramco weighing up to US$5b of renewable deals: sources

Dubai

SAUDI Aramco, the world's largest oil company, is considering as much as US$5 billion of investments in renewable energy firms as part of plans to diversify from crude production, according to people with knowledge of the matter.

Banks including HSBC Holdings plc, JPMorgan Chase & Co and Credit Suisse Group AG have been invited to pitch for a role helping Aramco identify potential acquisition targets and advising on deals, the people said, asking not to be identified as the information is private.