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ABU DHABI / WAM
The International Petroleum Investment Company (IPIC), wholly owned by the Government of Abu Dhabi, has welcomed the new strategy announced by the Austrian’s OMV, an integrated international oil and gas company.
Murtadha al-Hashemi, Chief Financial Officer, IPIC, and board member of the OMV, said that with the decline in oil prices, OMV faces difficulties, adding that IPIC “welcomes and supports the new strategy that focuses on value and profitability, which is in the best interest of OMV shareholders.â€
IPIC owns a stake of 24.9 per cent
in OMV.