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.