Stock market quotes, forex, financial news, forex tools –

Saudi Arabia buys shares of oil companies from the EU

 Breaking News
  • Boeing announced the start of massive layoffs The Boeing Company has no choice but to take drastic measures. The world’s largest manufacturer of space and aviation equipment is forced to reduce the number of staff by 13...
  • Serious drawdown of oil quotes Today, oil is actively declining. A very significant increase in the reserves of “black gold” in the United States caused this drop. Moreover, the fears that Russia will not reduce...
  • Swiss watch makers are in crisis Swiss watch exports in April crashed at a record pace the drop has totaled 81% compared with the same period last year. Halting production and difficulties with sales caused by...
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...

Saudi Arabia buys shares of oil companies from the EU

Saudi Arabia buys shares of oil companies from the EU
April 09
09:00 2020

The energy market is currently having a tough time low oil quotes logically lead to a drop in stock prices of oil and gas companies.

Someone’s problems play into someone’s hands! It became known that the Public Investment Fund of Saudi Arabia was actively buying the securities of several large European oil companies – Equinor, Eni, Royal Dutch Shell and Total. It became known that the PIF had bought securities for about a billion US dollars and they had no plans to finish the process.

Such Saudi Arabia’s investment activity suggests that the PIF tactics has changed. It was previously stated that the fund had been created specifically to reduce the dependence of the Saudi economy on the oil sector. Accordingly, it was expected that the fund would make any acquisitions except for those related to energy.

So, the PIF has acquired part of the Norwegian company Equinor, the value of which is estimated at $ 200 million. Due to this, Saudi Arabia’s fund has ranked 12th in the list of the largest shareholders of the Norwegian company.

The PIF has chosen the very right moment to conquer the oil and gas industry in Europe, since each of the above companies lost a significant part of their value in 2020. Shell and Total have lost 35% and 31%, respectively, while Eni and Equinor have lost 33% and 23%.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment