WSJ: Saudi Arabia buys stakes worth US$1b in European oil companies | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 86%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

RIYADH, April 9 ― Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has accumulated stakes worth about US$1 billion (RM4.33 billion) in four major European oil companies, the Wall Street Journal reported yesterday, citing people familiar with the matter. The four companies...

Thursday, 09 Apr 2020 09:18 AM MYT

RIYADH, April 9 ― Saudi Arabia's sovereign wealth fund, the Public Investment Fund , has accumulated stakes worth about US$1 billion in four major European oil companies, theThe four companies are Norway's Equinor ASA, Anglo-Dutch energy company Royal Dutch Shell, France's Total SA and Italy's Eni SPA, according to theThe fund built a stake of about US$200 million in Equinor in the days around a sharp rally in oil prices last week, the Journal reported, adding it could not learn...

A Saudi official cited by the Journal said that similar deals could take place in the future as well. PIF is Saudi Crown Prince Mohammed bin Salman's vehicle to boost Saudi investments at home and abroad, as he seeks to diversify the oil-heavy economy.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines