Dow Jones: Saudi Wealth Fund Takes Stakes in European Oil Majors
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
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
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