The transfer of 8% of Aramco shares will increase the capital of the Saudi Public Investment Fund to more than $1.5 trillion, as one of the largest sovereign wealth funds in the world. Aramco is a Saudi energy company that manages a proven oil reserve amounting to 260 billion barrels, and another of natural gas estimated at 288 trillion cubic feet.
Heba Al-Fuhaid, professor of economics at King Saud University, says that the process of transferring shares is a positive step that will help diversify the sources of income.