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.
Saudi Arabia Launches Google Pay
Saudi Central Bank launches Google Pay via mada, advancing Vision 2030 goals to boost digital payments, reduce cash rel... Read more
Next UAE Holiday Dates, Emirates ID Update, Dubai Tourism Boom And Real Estate Tax Analysis – 10 Things You Missed This Week
Catch up on the UAE’s biggest news this week — from new holidays and Emirates ID updates to Dubai tourism growth, r... Read more
UAE Credit Score: What Really Affects It? Experts Weigh In
Discover the hidden factors that could be silently destroying your UAE credit score – and the simple steps that could... Read more
Ajman New Professional Licences Up 37% In H1 2025 As New Investors Rise 24%
Ajman’s new professional licences surged 37 per cent in H1 2025, with new investors up 24 per cent and Ethiopia and S... Read more
AB Majlis Podcast: Mashreqs Fernando Morillo Says Tipping Point For Digital Banking Is Already Behind Us
Guided by the vision of the founding family and leadership team, the bank has moved aggressively to redefine what moder... Read more
UAE Drives Capital.com To Record $1.5tn Global Trading Volumes In H1 2025
The UAE accounted for more than 70% of MENA trading activity as Capital.com reported record half-year volumes, undersco... Read more