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

April 9, 2020 (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

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