International Petroleum Investment Company eyes increase in 20% stake in oil and gas group
Abu Dhabi's International
Petroleum Investment Company (IPIC) said on Wednesday it could
raise its stake in Austrian oil and gas group OMV this
IPIC now owns a 20 percent in the Vienna-based group.
"Yes, that it possible. It is a good company and we have a
good relationship with them," IPIC managing director Khadem al
Qubaisi told Reuters when asked if it could raise the stake.
"It could be this year," he said on the sidelines of a
conference. He also said IPIC was reviewing buying the remaining
stake in plastics maker Borealis from OMV.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.