Saudi Arabia plans to sell state oil assets to create $2tn wealth fund

clock • 4 min read

Campaigners hail a symbolic shift away from fossil fuels, but others see move as more style than substance

Saudi Arabia is planning to establish a $2tn (£1.4tn) sovereign wealth fund by selling off its state petroleum assets in preparation for a world beyond oil. Greenpeace said it was a pivotal moment akin...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Investment

OVO unveils new venture to invest in upgrading UK's ageing onshore wind farms

OVO unveils new venture to invest in upgrading UK's ageing onshore wind farms

OVO Renewables aims to invest hundreds of millions of pounds in repowering onshore wind turbines approaching the end of their operating lifespan

Michael Holder
clock 17 July 2025 • 4 min read
 Innovatium secures £3m investment in liquid air battery technology

Innovatium secures £3m investment in liquid air battery technology

Fresh funding from Hitachi Industrial Equipment Systems and Scottish National Investment Bank aims to accelerate roll out of liquid air energy storage technology

clock 16 July 2025 • 3 min read
Chancellor vows to boost sustainable investment, but drops plans for green taxonomy

Chancellor vows to boost sustainable investment, but drops plans for green taxonomy

Government concludes 'a UK Taxonomy would not be the most effective tool to deliver the green transition'

James Murray
clock 15 July 2025 • 5 min read