Saudi Aramco 4% stake transferred to PIF's Sanabil (2024)

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Saudi Aramco 4% stake transferred to PIF's Sanabil? ›

A 4% stake in oil major Saudi Aramco has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund, Crown Prince Mohammed Bin Salman

In February 2022, Crown Prince Mohammed transferred 4% of Aramco to the PIF. Last year, the prince transferred another 4% stake to the Saudi Arabian Investment Co., known as Sanabil Investments. Sanabil is under the PIF.

The fund has had a 4% stake since 2022, and Sanabil, a PIF-owned investment company, owns another 4% stake. Together, PIF and PIF-affiliated entities now have a 16% stake in Saudi Aramco, worth $327 billion, or around the total market value of Samsung Electronics or Home Depot.

About Sanabil Investments

Sanabil is wholly-owned by the Public Investment Fund of the Government of Saudi Arabia, yet it operates as an independent investment institution with a commercially-driven approach focusing on achieving high risk-adjusted returns.

Saudi Arabia's crown prince transfers another 8% of Aramco shares to sovereign wealth fund. DUBAI, United Arab Emirates (AP) — Saudi Arabia's crown prince transferred another 8% of shares in the kingdom's oil giant Saudi Aramco to the country's prominent sovereign wealth fund on Thursday.

Stake transfer is part of plan to boost Public Investment Fund's assets under management and help diversify kingdom's oil-dependent economy. DUBAI—Saudi Arabia transferred shares worth about $80 billion in oil giant Aramco to its wealth fund as part of efforts to diversify the kingdom's hydrocarbon-dependent economy.

The PIF will now hold a 16% stake in Aramco. The fund is a key part of Crown Prince Mohammed bin Salman's efforts to diversify the Saudi economy, and is set to increase annual deployment of capital to $70 billion a year after 2025.

Saudi Aramco Investment Management Co. provides financial services and is ultimately controlled by the Government of Saudi Arabia. The private company is based in Dhahran, Saudi Arabia.

The Saudi state remains overwhelmingly Aramco's biggest shareholder, and heavily relies on its payouts. The government directly holds 90.19%, the sovereign Public Investment Fund (PIF) 4% and PIF subsidiary Sanabil another 4%, according to LSEG data.

How big is the Sanabil Investment Fund? ›

Sanabil Investments is a financial investment company that commits approximately $ 3 billion in capital per annum in private investments that include venture, growth capital and small buyouts.

Abdullah earned his bachelor's degree in Economics from California State University-Hayward in 1998. Abdullah Alabduljabbar is the Chief Executive Officer at Sanabil Investments.

Mr. Almalik is the Deputy Chief Executive Officer and Chief Operating Officer of Sanabil Investments. He joined the company upon its establishment by Royal Decree and initial capitalization of approximately $5.3 billion.

Not all of them, though. A few of the world's largest and most important companies have no U.S. stock market presence at all, making it difficult for U.S. investors to participate—notably Samsung Electronics, Saudi Aramco, and Kweichow Moutai.

By the 1950s, Aramco was owned by four shareholder companies and based in New York. In addition to Standard Oil of California, the shareholders were Texaco, Standard Oil Company of New Jersey, and Socony Vacuum (now Mobil). In 1952, Aramco's headquarters moved from New York to Dhahran, Saudi Arabia.

Aramco subsidiaries are key players in the region's vibrant energy market and together act as a key crude oil supplier to India, China, Japan, South Korea, and the Philippines.

The Public Investment Fund (“PIF” or the “Fund”) today announced an investment reaching USD 1.3 billion by way of subscribing to new shares as part of the capital increases representing significant minority stakes, in four leading local construction companies: Nesma & Partners Contracting Company, ElSeif Engineering ...

Yearly Trade

The most common destination for the exports of Saudi Arabia are China ($68B), India ($46.2B), Japan ($36.5B), South Korea ($36B), and United States ($23.9B).

It was created in 1971 for the purpose of investing funds on behalf of the Government of Saudi Arabia. The wealth fund is controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015.

Oct 26 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) has established five regional investment companies in Jordan, Bahrain, Sudan, Iraq and Oman, the sovereign wealth fund said on Wednesday, following a similar move to set up an investment subsidiary in Egypt.