oxy

Oman Oil eyeing Oxy’s Mideast assets

: Thursday, April 03 - 2014 @ 01:53

Salim al Aufi, undersecretary of Oman’s oil and gas minister has said that Oman Oil Co will consider buying a stake in Occidental Petroleum Corp’s (Oxy) assets in the Middle East if the US-based company makes an offer, Muscat Daily has reported. Oxy, which is seeking to raise $8bn by selling a stake in its Middle East business, had said a political dispute in the region is complicating plans to sell to a single investor group. “Oman Oil will be interested if Oxy makes an offer,” said al Aufi. “But at this moment they [Oxy] are looking at potential partners they can bring with them. Our understanding is that Oxy will continue to be the operator in Oman. Currently, it is just a due diligence that they are conducting, and no offer is on the table,” he said.

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Thursday, April 3- 2014 @ 1:53 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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