 "FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York US. Photo: Reuters")
A group led by BlackRock agreed to invest $15.5 billion in Saudi Arabian Oil Company’s natural gas pipelines as the world’s largest crude exporter looks to fund a massive increase in production capacity.
The group will buy a 49 per cent stake in Aramco Gas Pipelines, a newly formed entity that holds 20-year leasing rights for Aramco’s network of pipelines that ship gas across the country, the oil producer said in an emailed statement Monday. Saudi Arabia’s Hassana Investment will co-lead the consortium of investors alongside BlackRock Real Assets.
The deal is part of Saudi Arabia’s drive to open up to more
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