Saudi Wealth Fund Said To Take Stakes In European Oil Majors
Stakes in Equinor, Royal Dutch Shell, Total and Eni were bought by the Public Investment Fund on the open market in recent weeks
PIF bought a stake worth around $200m in Norway’s Equinor; the size of the stakes in Royal Dutch Shell, Total and Eni couldn’t be determined.
Saudi Arabia’s sovereign-wealth fund has taken stakes worth about $1 billion in European oil majors Equinor, Royal Dutch Shell, Total and Eni, Dow Jones reports, citing people familiar.
Stakes were bought by the Public Investment Fund on the open market in recent weeks, and the fund may continue to make stock purchases.
PIF bought a stake worth around $200m in Norway’s Equinor; the size of the stakes in Royal Dutch Shell, Total and Eni couldn’t be determined.
Spokespeople from Equinor, Royal Dutch Shell, and Eni declined to comment, Dow Jones said; Total didn’t respond to a request for comment.
Royal Dutch Shell ADRs rose about 2% post market.
UAEs Maseera Acquires Egyptian Fintech ADVA
The move marks a critical milestone in Maseera’s regional expansion strategy Read more
Oman Mandates IBAN For Domestic Transfers From July 2025
The move follows the Oman Central Bank's implementation of the IBAN system for international transfers from March 31, 2... Read more
Egypt And Jordan Thank The European Parliament For New Financial Aid
The European Union members recently approved loans worth $4.4 billion in three instalments to Egypt and $555 million to... Read more
Standard Chartereds SC Ventures To Replicate Asia, Africa SME Model In GCC
SC Ventures to bring its successful SME building strategy in India, South East Asia and Africa to GCC, and plans to rol... Read more
UAE Central Bank Revokes Licence Of Dynamics Insurance Brokers For Regulatory Breaches
Dynamics Insurance Brokers "failed to comply with the licensing terms and requirements issued by the Central Bank and w... Read more
Eid Al Fitr Holidays In The GCC; Dubais 100 Most Influential People; UAE Petrol Prices To Change; Royal Baby Announced – 10 Things You Missed This Week
Eid holidays, the Dubai 100, UAE petrol prices, Royal Baby named, Palm Jebel Ali investments and more top news stories ... Read more