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Pipeline Deal Shows Oil Still King for Investors in Saudi Arabia

Publishing date: Apr 14, 2021 • 1 hour ago • 4 minute read •
Article content
(Bloomberg) — Saudi Arabia is celebrating one of the biggest foreign-investment windfalls in its history after netting more than $12 billion by selling off a stake in the oil pipelines that traverse the desert kingdom.
But the country may also be facing an uncomfortable reality as a result. As carefully cultivated relationships with firms such as BlackRock Inc. and SoftBank Group Corp. have yet to draw in the desired investment, it’s turning to the jewels of its energy industry to attract new money.
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Blackrock , Nova-scotia , Canada , United-states , Saudi-arabia , Houston , Texas , Riyadh , Ar-riya , Toronto , Ontario , Washington

A $12.5 billion deal shows Saudi oil still eclipses all else

A $12.5 billion deal shows Saudi oil still eclipses all else
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Last Updated: Apr 14, 2021, 03:19 PM IST
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Synopsis
Last week’s sale of the stake to EIG Global Energy Partners LLC shows how reliant Saudi Arabia is on its traditional mainstay and the challenges Crown Prince Mohammed bin Salman faces in diversifying the country away from oil and gas to achieve his Vision 2030 goal.
Reuters
In selling assets of its main state-owned energy explorer, Saudi Arabia is following a model successfully implemented by neighbouring Abu Dhabi.
Saudi Arabia is celebrating one of the biggest foreign-investment windfalls in its history after netting more than $12 billion by selling off a stake in the oil pipelines that traverse the desert kingdom.

United-states , Saudi-arabia , Houston , Texas , Riyadh , Ar-riya , Washington , Brookfield , Spain , Blackrock , America , Saudi

$12.5-bn pipeline deal shows oil still king for investors in Saudi Arabia

$12.5-bn pipeline deal shows oil still king for investors in Saudi Arabia
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

United-states , Saudi-arabia , Houston , Texas , Riyadh , Ar-riya , Washington , Brookfield , Spain , Blackrock , America , Saudi

Pipeline Deal Shows Oil Still King for Investors in Saudi Arabia

Pipeline Deal Shows Oil Still King for Investors in Saudi Arabia
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

United-states , Saudi-arabia , Houston , Texas , Riyadh , Ar-riya- , Washington , Brookfield , Spain , Blackrock , America , Saudi