- Consortium of investors who invested in ADNOC including Global Infrastructure Partners (GIP), Brookfield, Singapore sovereign wealth fund GIC and SNAM
- China’s Silk Road
- Chinese state-backed investment fund CNIC Corp
- South Korea’s sovereign wealth fund Korean Investment Corp (KIC)
- NH Investment & Securities
In other related news, Aramco is also in advanced negotiations to buy a 20% stake in India’s Reliance Industries Ltd’s (RIL) oil refinery business worth ~$20-25bn through an all-stock deal in the coming weeks. Based on Aramco’s market valuation of ~$1.9tn, RIL would get ~1% share of Aramco. The negotiations which have been going on for 2 years slowed due to the pandemic. The closure of the deal would potentially benefit both the companies. The deal would result in a degree of assurance to Aramco’s sale of crude to India while increasing its refining capability. RIL would benefit by an assured supply of crude for its oil refinery.
Aramco’s 0.946% 2024s were down 0.18 to trade at 99.71 while its 3.25% 2050s were up 0.14 to trade at 97.38. RIL’s 3.667% 2027s and 4.875% 2045s were up 0.02 and 0.21 to trade at 110.19 and 126.52 respectively.