PIF-backed Industrialisation and Energy Services Co (TAQA)Â has signed a joint venture agreement with Reykjavik Geothermal to establish TAQA Geothermal Energy LLC, headquartered in Riyadh, Saudi Arabia. TAQA Geothermal will explore and develop geothermal resources in Saudi Arabia and the MENA region contributing to Saudi and Middle East Green Initiatives’ decarbonisation targets. TAQA said in […]
Public Investment Fund
Posted inNews
PIF receives shares worth about $80 billion from Saudi Aramco
The transfer of shares also support the PIF’s plan to grow its assets under management to $1.07 trillion by the end of 2025
Saudi Arabia has transferred 4% of Saudi Aramco shares to its sovereign wealth fund – Public Investment Fund (PIF) – according to a statement. In line with Aramco’s market capitalisation, a 4% stake would mean shares worth about $80 billion. Prince Mohammed bin Salman, Saudi Arabia’s Crown Prince, Deputy Prime Minister, Chairman of the Council […]
Posted inDRILLING & PRODUCTION
Saudi PIF’s Innovative Energy to take ADES International private
Innovative Energy is jointly owned by Saudi Arabia’s PIF, ADES Investments, and Zamil Investments
Posted inProducts & Services
PIF buys 40% stake in Aramco and Jacobs Engineering joint venture
Jasara Program Management was created in 2017 as a joint venture between Saudi Aramco and Jacobs Engineering to provide management services for local and regional social infrastructure projects
Posted inProducts & Services
Saudi Arabia’s PIF has assets worth $300bn, says IIF
The Public Investment Fund plans to have $400bn in assets by 2020, and $2tn by 2030
Posted inDRILLING & PRODUCTION
Who wins in Saudi Aramco’s $69.1bn acquisition of a 70% stake in SABIC from the PIF?
Martin Menachery, editor of Refining & Petrochemicals Middle East, talks about upstream/downstream integration, and who will be the biggest winner in Saudi Aramco’s deal to purchase a 70% stake in SABIC from the PIF for $69.1bn.
Posted inDRILLING & PRODUCTION
Saudi Aramco’s $10bn bond sale will close on Wednesday
Investor demand is over $30bn, and the bond sale will help Aramco finance its SABIC acquisition
Posted inDRILLING & PRODUCTION
Saudi Aramco agrees to acquire 70% stake in Sabic from PIF for $69.1bn
The long-awaited acquisition will grow Saudi Aramco’s downstream presence, evening out its portfolio across the value chain
Posted inDRILLING & PRODUCTION
Saudi Aramco board to reportedly meet for Sabic bond approval
The company plans to issue a $10bn bond in the second quarter of 2019, to help fund its acquisition of a controlling stake in Saudi chemicals giant Sabic