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OMV Acquires 2.2 Billion Euro Share in United Arab Emirates Refinery

Published: January 28, 2019; 12:47 · (Vindobona)

Austrian OMV and the state-owned oil company of the United Arab Emirates, Adnoc, announced that OMV has acquired a 15 percent stake in Abu Dhabi Oil Refining Company. Thereby OMV establishes a major downstream Oil position. In addition, OMV will acquire a 15 percent stake in a trade joint venture with export volumes equivalent to around 70% of production.

This article includes a total of 650 words.

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