Mubadala takes stake in Aramco pipelines venture

SourceThe National
SectorOil & Gas

Abu Dhabi’s sovereign fund Mubadala confirmed it has joined the consortium that took a significant minority stake in an oil pipeline venture with Saudi Aramco.

Aramco announced a $12.4 billion deal in April for the sale of a 49 per cent stake in a newly created vehicle known as Aramco Oil Pipelines. The buyer was a consortium led by Washington-based investor EIG, an investor in energy-related infrastructure.

Mubadala “has joined the EIG-led consortium which has entered into a transaction with Saudi Arabian Oil Company [Aramco] to acquire a 49 per cent equity stake in the newly formed entity Aramco Oil Pipelines Company. Aramco will more...