The move underscores Crown Prince Mohammed bin Salman's campaign to use the Gulf kingdom's vast energy resources to open up the economy under his "Vision 2030" domestic reform agenda. Prince Mohammed, the kingdom's de facto ruler, "indicated that the transfer of part of the state's shares in Saudi Aramco is a continuation of Saudi Arabia's long-term initiatives to boost and diversify the national economy and expand investment opportunities," the report said. The PIF has made high-profile investments in firms including Uber and Disney, and its so-called giga-projects -- centrepieces of Prince Mohammed's reform agenda -- include Neom, a $500 billion futuristic megacity under construction in the Saudi desert