OMV Pays $120mn for Part of Occidental's Equity Interest 

MEES understands that the Austrian national oil company OMV has paid approximately $120mn for the purchase last month of a 25% share of Occidental's equity interest in Libya. The agreement will enable OMV to acquire around 600,000 t/y (12,000 b/d) of crude oil and 70,000 t/y of condensates (MEES, 24 June). Libya's National Oil Corporation holds a 51% share in the joint venture.