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BlackRock-managed fund buys stake in Saudi-Bahrain pipeline
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BlackRock-managed fund buys stake in Saudi-Bahrain pipeline
Sep 11, 2024 4:54 AM

DUBAI, Sept 11 (Reuters) - A BlackRock ( BLK )-managed fund

has bought a minority stake in a pipeline linking Saudi

Arabia and Bahrain from Bahrain state oil firm Bapco Energies,

the two firms said on Wednesday.

A fund managed by BlackRock's ( BLK ) Diversified Infrastructure

business bought the stake in Saudi Bahrain Pipeline Company

(SBPC), they said in a joint statement.

No value was disclosed for the deal, which follows similar

moves by investment firms regarding the pipeline assets of Saudi

Aramco and ADNOC in neighbouring Saudi Arabia and the United

Arab Emirates.

"SBPC owns a portion of the 112-km pipeline supplying crude

oil from Saudi Aramco to Bapco Refining, the national refinery

of Bahrain and a subsidiary of Bapco Energies," the statement

said.

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