LIBYA

OMV Buys Part of Occidental's Equity Interest 

The Austrian national oil company OMV has announced that it will purchase a 25% share of Occidental's equity interest in Libya, according to a statement by Mr. Herbert Kaes, OMV Director General. Libya's National Oil Corporation holds a 51% share in the joint venture (MEES, 3 June). An agreement will be formally signed on 30 June when financial details of the deal will be announced. According to OMV, the arrangement will...