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People attend the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. / AFP / FAYEZ NURELDINE
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In this photo released by Saudi Press Agency, SPA, Saudi Minister of Commerce and Investment Majid al-Qasabi talks to the audience at the opening of Future Investment Initiative conference in Riyadh, Saudi Arabia, Tuesday, Oct. 24, 2017. Saudi Arabia has opened a major investment conference aimed at shining a spotlight on the country's efforts to diversify its revenue streams and overhaul its economy and society. (Saudi Press Agency via AP)
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Joe Kaeser, President and Chief Executive Officer of Siemens, Lubna Olayan, Chief Executive Officer and Deputy Chairperson of Olayan Financing Company and Thomas Kennedy, Chairman and Chief Executive Officer Raytheon Company, attend the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
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Managing Director of International Monetary Fund Christine Lagarde (L) looks at the President and CEO of the Saudi Oil Company Aramco Amin Nasser (R) as he speaks during the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. / AFP / FAYEZ NURELDINE
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Managing Director of International Monetary Fund Christine Lagarde (C) takes part in a panel discussion during the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. / AFP / FAYEZ NURELDINE
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President and CEO of the Saudi Oil Company Aramco Amin Nasser looks on during a panel discussion during the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. / AFP / FAYEZ NURELDINE
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People attend the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Faisal Al Nasser
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Yasir al-Rumayyan, Chief Executive and Managing Director of Saudi Arabia’s Public Investment Fund, Christine Lagarde, International Monetary Fund (IMF) Managing Director, and Amin Nasser, President and Chief Executive Officer of Aramco, attend the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
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Invited foreign and Saudi investors attend the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. / AFP / FAYEZ NURELDINE
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Managing Director of International Monetary Fund Christine Lagarde (C) looks at the President and CEO of the Saudi Oil Company Aramco Amin Nasser (R) during the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. / AFP / FAYEZ NURELDINE
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Christine Lagarde, International Monetary Fund (IMF) Managing Director, is seen on a screen as she attends the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
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Invited foreign and Saudi investors attend the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. / AFP / FAYEZ NURELDINE
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Saudi Oil Minister, Khalid al-Falih, arrives at the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
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Participants walk during the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
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A general view shows a portrait of Saudi Crown Prince Mohammed bin Salman People as people attend the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. / AFP / FAYEZ NURELDINE
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Participants walk during the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Faisal Al Nasser
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Saudi managing director of the Public Investment Fund Yasir Al-Rumayyan (L) smiles towards Managing Director of International Monetary Fund Christine Lagarde during the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. / AFP / FAYEZ NURELDINE
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Mohamed Alabbar (L), Emaar Properties Chairman, gestures during the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
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Participants attend the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
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Saudi Energy and Oil Minister Khalid Al-Falih arrives to attend the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. / AFP / FAYEZ NURELDINE
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Updated 25 October 2017

Future Investment Initiative conference in Riyadh

Saudi Arabia’s Public Investment Fund (PIF), the country’s main sovereign wealth fund, will contribute $20 billion to a $40 billion fund with US private equity firm Blackstone, its managing director said on Tuesday.

(Photo courtesy: AP, AFP, Reuters and AN photos by Meshal Alqader)