A $12.5 Billion Deal Shows Saudi Oil Still Eclipses All Else

EIG makes one of the biggest direct investments in the country
$12.4 bln Aramco deal shows country’s reliance on core energy

Exclusive: Inside Look At The Saudi Aramco Oil Company — Photographer: Simon Dawson/Bloomberg

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By Dinesh Nair and Matthew Martin

April 14, 2021 at 4:00 AM UTC

Updated on

April 14, 2021 at 3:50 PM UTC

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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.