Saudi Arabia's PIF invests $200 million in Norway’s State Oil Company

(Saudi Arabia)

Gulf Business has reported that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund of Saudi Arabia (PIF), invested $200 million in Norway’s Equinor ASA amid the coronavirus pandemic and plummeting crude prices.

The article further notes that the Equinor investment is a continuation of PIF’s active interest in European oil firms. PIF had also acquired stakes in Royal Dutch Shell, Total SA, and Eni S.p.A., worth about $1 billion in total.

Read the original article on Gulf Business: Saudi wealth fund builds $200m stake in Norway’s state oil company