Saudi Arabia transfers more Aramco oil shares to sovereign wealth fund

Saudi Arabia transfers more Aramco oil shares to sovereign wealth fund

RIYADH –

Saudi Arabia has put a second four percent tranche of shares of the Aramco energy giant, worth tens of billions of dollars, under the control of the country’s sovereign wealth fund, state media said Sunday.

The move underscores Crown Prince Mohammed bin Salman’s campaign to use the Gulf kingdom’s vast energy resources to open up the economy under his “Vision 2030” domestic reform agenda.