Saudi Arabia’s Public Investment Fund (PIF) acquired a stake worth $200 million in the Norwegian crude firm Equinor, Bloomberg reported, citing sources.

 

The PIF bought the stake from open market last week, sources said, adding the current market value of the Norwegian energy firm is about $44 billion.

 

Equinor, 67% owned by the Norwegian government, posted revenues of nearly $80 billion in 2018. It currently operates in more than 30 countries.

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