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Asharq Al-Awsat
Asharq Al-Awsat
Business
Riyadh – Mohammed al-Mutairi

Why Saudi Arabia Transfered 4% of Aramco Shares to PIF Subsidiary?

PIF Mohammed bin Salman Saudi Arabia Saudi Aramco Public Investment Fund Asharq AlAwsat Economic Growth Oil
Saudi Arabia continues its efforts to diversify its sources of income and utilize its capabilities to push forward its economic growth plans (Asharq Al-Awsat)

Saudi Arabia's Crown Prince Mohammed bin Salman announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to Sanabil Investments, a subsidiary of the kingdom's Public Investment Fund (PIF).

Experts interviewed by Asharq Al-Awsat said the move supports PIF’s flexibility in capturing local and global investment and strategic economic opportunities, as well as ensures the continuation of plans to drive national economic growth.

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