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FINANCIAL NEWS
Oman acquires 15% stake in Portuguese REN
25 Feb 2012
(MENAFN) Oman Oil Company (OOC) bought a 15 percent stake in the Portuguese energy operator Redes Energeticas Nacionais (REN) for USD270 million, Oman News Agency reported.
The acquisition forms part of recent efforts of the Portuguese government to privatize certain state-owned companies.
The state-run OOC was established in 1996 to pursue investment opportunities in the energy sector, both inside and ‎outside Oman.
Local and international investments of OOC include 35 projects ‎covering the areas of exploration and production, mining, refining and petrochemical, oil ‎products marketing, electricity generation and marine shipping sectors.
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