VOL. XLI

No. 43

26-October-1998

UAE

Abu Dhabis IPIC Agrees In Principle To Acquire 50% Of SouthKoreas Hyundai Refinery

Abu Dhabis downstream investment arm, International PetroleumInvestment Company (IPIC), has agreed in principle to acquire a 50% stake in SouthKoreas Hyundai Oil Refinery Company, according to a statement issued on 20 Octoberby Hyundai. Under the acquisition deal, which is targeted for finalization by the end ofthe year, IPIC will acquire 50% of the 310,000 b/d Hyundai refinery...