The Globe and Mail reports in its Saturday, July 5, edition that Saudi oil giant Aramco plans to sell up to five gas-fired power plants as part of an effort to generate funds, potentially raising about $4-billion. A Reuters dispatch to The Globe reports that this move comes as the Saudi government urges Aramco to boost profits and payouts to the state. Aramco will also cut dividend payouts by nearly a third this year. In addition to the power plants, Aramco may divest assets like housing compounds, pipelines and port infrastructure. Aramco declined to comment on the potential asset sales and had no immediate comment on the amount of money the fundraising drive could yield. Reuters could not determine a timeline for the sale. One observer says local businesses such as Saudi utility firms could be interested buyers. Aramco fully or partly owned 18 power plants and related infrastructure locally supplying energy to its gas plants and refineries, according to its 2024 financial report. Aramco's potential asset sales align with Crown Prince Mohammed bin Salman's efforts to diversify the economy from oil amid falling crude prices. Aramco sold $5-billion (U.S.) of bonds in May and signalled more borrowing.