Russin pension funds may back Aramco IPO

Baku. 23 January. REPORT.AZ/ Russian pension funds are considering investing in Saudi Arabian state oil major Aramco when it lists its stock in a move to strengthen the partnership between the world’s two top oil producers.

Report informs citing the Reuters, the head of Russia’s Direct Investment Fund, Kirill Dmitriev told Reuters on Tuesday that Moscow and Riyadh should be coordinating oil policies for many more years.

“We see great interest in the Aramco IPO from Russian pension funds as well as from our Chinese partners,” said Dmitriev.

“Russia already has significant positions in the oil business so it is hard to expect us taking a very significant stake during the IPO,” Dmitriev added.

Notably, Saudi Aramco has announced opening its representation in Azerbaijan in near future. The State Oil Fund of Azerbaijan (SOFAZ) told Report that the Fund has no intention of buying Saudi Aramco shares.