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.
First Abu Dhabi Bank Opens New London Branch, Marking 48 Years In The UK
FAB first entered London through its predecessor National Bank of Abu Dhabi, and the city now serves as a hub for priva... Read more
Estithmar Holding Net Profit Doubles To $128mn In H1 2025
Doha-based investment firm posts revenue of QAR 3.073 billion as international expansion drives growth Read more
UAE Central Bank Follows Fed Lead And Maintains Base Rate At 4.4%
Also decides to maintain the interest rate applicable to borrowing short-term liquidity at 50 basis points above the Ba... Read more
Joyalukkas Secures AED500m Capital Boost From Emirates NBD For Global Expansion
The deal is fully integrated with Emirates NBD’s advanced digital and trade platforms, offering Joyalukkas real-time ... Read more
UAE Central Bank Suspends Foreign Insurers Motor Business Over Solvency Issues
The CBUAE cited the entity's non-compliance with solvency and guarantee requirements specified in the Law and prevailin... Read more
Standard Chartered Launches UAEs First Sustainable Escrow And Account Bank Solution
New solution enables clients to align cash deposits with sustainability goals through a market-first offering available... Read more