Skip to main content

Saudi's SNB Capital launches fund with focus on oil and gas

1 min Mena Today

Saudi investment bank and asset manager SNB Capital said on Wednesday it had launched a fund that has raised over $230 million and that will provide investors with exposure to the oil and gas sector under a shariah-compliant structure.

The SNB Capital Oil & Gas Fund I, established by SNB Capital's Dubai subsidiary, will invest directly in Repsol E&P

The SNB Capital Oil & Gas Fund I, established by SNB Capital's Dubai subsidiary, will invest directly in Repsol E&P

Saudi investment bank and asset manager SNB Capital said on Wednesday it had launched a fund that has raised over $230 million and that will provide investors with exposure to the oil and gas sector under a shariah-compliant structure.

The SNB Capital Oil & Gas Fund I, established by SNB Capital's Dubai subsidiary, will invest directly in Repsol E&P, a joint venture (JV) between EIG and Spanish energy firm Repsol .

It will offer exposure to a global E&P (exploration and production) portfolio with a production capacity of around 600,000 barrels of oil equivalent per day, SNB Capital said in a statement.

Repsol will retain a majority stake in the JV while leveraging EIG's "long track record of investing across the capital structure in the global E&P sector to maximiae value creation, enhancing the strengths of Repsol E&P", it said.

Reporting by Federico Maccioni

Related

Turkey

Turkey proposes bill to expand presidential control over vehicle taxes

Turkey’s ruling Justice and Development Party (AK Party) submitted a draft bill to parliament on Monday that proposes significant changes to the country’s tax framework, particularly targeting special consumption tax (SCT) regulations for motor vehicles. 

Palestine

The fall of Macron’s grand strategy

A United Nations conference co-hosted by France and Saudi Arabia aimed at forging a roadmap towards a two-state solution between Israel and the Palestinians has been postponed after Israel launched a military attack on Iran, two sources said on Friday.

Saudi Arabia

Condemning by day, celebrating by night

Saudi Arabia officially condemned Friday’s deadly Israeli strikes on Iran, describing them as "blatant aggression" against a “brotherly nation,” according to a statement by the Kingdom’s Foreign Ministry.

Subscribe to our newsletter

Mena banner 4

To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.

  • Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.