News > Saudi Arabia gives 4% of Aramco to investment fund

Saudi Arabia gives 4% of Aramco to investment fund

Saudi Arabia said Sunday it will transfer 4% of its stock in the state-run oil giant Aramco to its state investment fund, a nearly $80 billion infusion of cash as it tries to overhaul its energy-dependent economy.

The state-run Saudi Press Agency announcement comes as the oil firm is valued at just under $2 trillion and as oil trades above $90 a barrel - its highest level since 2014.