Saudi Arabia booked its highest-ever quarterly foreign direct investment (FDI) in the second quarter, thanks to a large oil pipeline infrastructure deal that state oil giant Aramco closed in the period. Saudi Arabia, whose FDI numbers have trended at around $1 billion per quarter in the past three years, saw its Q2 2021 FDI figure at a staggering $13.8 billion, according to data from the Saudi central bank cited by Forbes . The key driver for the record foreign investment was a $12.4 billion deal that involved Saudi Aramco. Aramco reached an agreement in April with a consortium led by U.S. EIG Global Energy Partners to sell it a 49-percent stake in Aramco Oil Pipelines Company for $12.4 billion . Aramco Oil Pipelines Company is a new business entity, formed to keep—or trade—the rights to 25 years of payments of rates for crude transportation across Aramco’s pipeline network. In […]